| || EnPro Industries Inc. Acquires Canadian Compressor Business |
23rd June, 2007
EnPro Industries Inc. (NYSE: NPO), a leading manufacturer of engineered industrial products, today announced the acquisition of Texflo Machining Ltd., a privately-held company that services and repairs reciprocating compressors, primarily for the natural gas market in Western Canada. The transaction was completed for cash; terms were not disclosed. Release link: http://www.enproindustries.com/
Headquartered in Edmonton, Alberta, Texflo rebuilds compressor cylinders and engine components and machines parts specialized to withstand harsh conditions. The business also offers thermal spray coating technologies for compressor and industrial applications and manufactures compressor rods and pistons.
"Texflo is an excellent complement to our France Compressor Products business," said Ernie Schaub, EnPro president and chief executive officer. "The acquisition expands our product offerings to the natural gas compression market and extends our ability to serve the markets of Western Canada. Texflo's reputation for superior performance, advancements in technology and product development align well with EnPro's culture and strategic direction."
"We are known for producing products and solutions that meet some of the most severe conditions the oil and gas industry has to offer," said George Ramsay, Texflo's principal owner. "We've developed a reputation as an industry leader. By joining with France Compressor Products, we gain the benefit of a larger, more established sales and marketing force and the opportunity to accelerate our growth, both in Canada and in the United States."
Texflo, which employs 40 people, will be managed as part of France Compressor Products and will continue to manufacture products and market its services from its facilities in Edmonton and Grande Prairie, Alberta. France Compressor, headquartered in Stafford, Texas, has other Canadian operations in Medicine Hat, Lac La Biche, Edmonton and Calgary, Alberta, as well as Brantford, Ontario.
EnPro Industries, Inc. is a leader in sealing products and filament wound bearings, compressor systems, diesel and dual-fuel engines and other engineered products for use in critical applications by industries worldwide.
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