ESAB Acquired by Colfax Corporation

press release
Saturday, January 14, 2012

Effective Friday, January 13, 2012, Charter International plc, owner of ESAB Welding & Cutting Products, has been acquired by Colfax Corporation.

 

Colfax Corporation, based in Fulton MD, is a diversified industrial manufacturing company listed on the New York Stock Exchange.  Charter International plc resided in Ireland and was the parent of two leading businesses:  ESAB, a global leader in the welding products industry, and Howden, a premier manufacturer of heavy-duty air and gas handling equipment. 

 

“We are very excited about this acquisition,” said Andrew Masterman, President & Chief Executive Officer of ESAB North America.  “Colfax Corporation is a leading manufacturing company with a proven operating system – the Colfax Business System – and is solidly focused on customer needs and the development of strong brands.  This is a perfect fit for ESAB, as we are a world-class leader in the welding industry – a position we have attained by building strong partnerships with our customers and by creating a brand that is trusted worldwide.”

 

ESAB employs more than 8,500 people worldwide, and is one of the top manufacturers in the welding industry, which is worth approximately $10 billion per year.  ESAB has sales and support locations in 80 countries, and 26 manufacturing facilities across 4 continents.  ESAB’s North American headquarters is located in Florence, South Carolina.

 

“This acquisition will not impact our customers or distributors,” said Mark Elender, Senior Vice President of Sales and Marketing for ESAB North America.  “We will continue to provide our customers and distributors with the best products and support services, and we are confident that this transition will be seamless and beneficial to all.” Colfax Corporation owns 10 brands in the pumping and fluid-handling market, and is traded on the NYSE under the ticker symbol “CFX.”

 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Contracts

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

Havyard to Build Hybrid Battery Arctic PSV

Norway's Havyard says it has signed a contract for the construction of a Havyard 833 WE ICE platform supply vessel with Fafnir Offshore HF. The vessel is to be

Finance

Saudi SABIC Q1 Profit Falls 1.8 % On Product Prices

Profit at Saudi Basic Industries Corp (SABIC), one of the world's biggest petrochemical firms, slipped 1.8 percent in the first quarter of this year as lower

India's Reliance Q4 Sales Rise

Indian energy company Reliance Industries Ltd posted nearly flat fourth-quarter profits, in line with estimates, as a slimmer margin in its oilrefining business offset higher revenue.

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

Mergers & Acquisitions

PetroVietNam Gas's Q1 gross profit falls 27.5%

PetroVietNam Gas's first-quarter gross profit fell 27.5 percent to 3.9 trillion dong ($185 million) from a year earlier, the Lao Dong (Labour) newspaper reported.

Inchcape Shipping Services Opens in Venezuela

Inchcape Shipping Services (ISS), the world’s leading maritime services provider, has expanded its network in Central and South America with the opening of ISS Venezuela in Puerto La Cruz,

Van Oord acquires 100% control of Dravo

Van Oord has acquired all shares of its Spanish subsidiary Dravo S.A.  Dravo S.A. has been owned, since 1987, by Van Oord (50%) and the Spanish company Dragados S.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1274 sec (8 req/sec)