Valco Group announced its entrance into the market for industrial valves. The new group, with revenues of about $100m in 2008, currently operates in the oil & gas, marine and energy & industry sectors. Valco Group has been formed from the Norwegian and French valve operations of the former Flowtech division of Technor Group.
Valco Group, with its head office in Stavanger (Norway), has five operational units: The factory Westad Industri in Norway, the two French factories: Malbranque and SNRI, the sales and distribution company Valco Valves & Automation (Norway) and Technor Valve Services (to be renamed Valco Valve Services) (France). The Group has approximately 400 employees, and is owned by leading private equity investor and oil and gas specialist HitecVision, who acquired the Technor Group in 2006.
The companies in Valco Group have valves for handling of high pressures, low temperatures as well as sour gas (H2S). The Valco Group has defined four main market segments:
• Oil & Gas upstream
• Oil & Gas downstream
• Marine sector (LNG and LPG vessels, oil and chemical tankers)
• Energy and industry (power plants and chemical industry)