Atlas Copco acquires cryogenic pump business to support natural gas processing

24.01.2011 + + + Atlas Copco has signed an agreement to acquire the pump business from J.C. Carter LLC, headquartered in California, USA. 

J.C. Carter is a leading producer of cryogenic submerged motor pumps, which have many applications in the growing natural gas market. The company’s products are primarily used in liquid natural gas regasification and liquefaction plants, and natural gas liquid processing. 

In 2009 the company had around 70 employees and revenues of approximately MUSD 25. 

“The acquisition will extend Atlas Copco’s offering to customers in liquid natural applications as well as to the chemical and petrochemical industries,” says Stephan Kuhn, Business Area President of Atlas Copco Compressor Technique. 

The acquired business will be a part of Atlas Copco’s Gas and Process Division and the deal is expected to be closed in the first quarter 2011. The parties have agreed not to disclose the purchase price.

Source: Atlas Copco - Published in PennEnergy