The power generation group of giant Babcock & Wilcox has acquired press peripherals maker Megtec Systems.
The US company formed by the 1997 merger of the French-owned Materiels Equipements Graphiques (MEG) with American rival Tec Systems, is a major player in the heatset web segment, making dryers, splicers and a variety of heat and solvent recovery systems.
Quoted on the New York stock exchange, the Babcock & Wilcox Company is an international provider of clean energy technologies and services, mostly for nuclear, fossil and renewable power.
President and chief operating officer of the Power Generation Group, J. Randall Data says Megtec’s industrial environmental business is “highly complementary” to the group’s utility environmental business, while its engineered products business including drying, coating and material handling equipment provides new growth opportunities.
“Both companies have a strong heritage of innovation and leading technology development,” he says. “This and other resulting synergies will provide our customers with a broader portfolio of technology solutions, large project execution capabilities, expanded sales and service reach and many other potential benefits.”
He says no changes to sales, service or other personnel are planned “in the medium term”.
Based in De Pere, Wisconsin, Megtec has a staff of more than 600 employees and operations in ten countries. The company claims “most of the major advances” in heatset drying for more than 40 years. Tec Systems was bought by technology company Sequa Corp from W.R. Grace & Co in 1997 and merged with MEG, which it already owned.
Pictured: A bank of Megtec regenerative thermal oxidisers