Babcock & Wilcox announces $155M acquisition
05/13/2014 12:32 PM
05/13/2014 1:30 PM
Charlotte energy company Babcock & Wilcox said Tuesday that its Power Generation Group will buy MEGTEC, an industrial processes firm, for $155 million.
Wisconsin-based MEGTEC, which makes air pollution controls and coating and drying equipment, employs 600 people in 10 countries. It will become a B&W subsidiary when the sale closes by June 30.
“MEGTEC is a leader in industrial environmental solutions and engineered products for energy storage and sustainability, and will complement B&W PGG’s existing capabilities, while also expanding its environmental controls business beyond its traditional utility and coal customer base,” CEO James Ferland said in a statement.
“We’re excited about the U.S. and international growth opportunities that MEGTEC brings, particularly in Asia and Europe.”
Editor's Choice Videos
Join the Discussion
Charlotte Observer is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.