Sulzer acquires Hidrotecar S.A.

Sulzer company, part of Renova Group, has signed an agreement to acquire privately owned company Hidrotecar S.A. – pumps manufacturer. Sales revenue the acquired company in 2010 reached 13 million Euros. This acquisition will enable Sulzer Pumps to expand the range of products and strengthen its position in the plumbing equipment markets in Europe, the Middle East and Africa. Closing of the deal is expected in January 2012 after the standard conditions are met.

Purchase of the new capacities for assembling and maintenance of equipment, mainly for European water supplying companies will help Sulzer Pumps to expand its presence in Europe and strengthen the company’s position on the equipment market.

According to Mikhail Lifshitz, Director of Development of High-Tech assets of Renova Group, the purchase of Hidrotecar S.A. is another step towards the enhancing the investment portfolio of Renova Group technological assets.

Renova Group is a leading Russian privately owned business group, which owns and manages assets in the metallurgical, oil, mining, chemical and construction industries, energy, telecommunications, high tech engineering, utilities and financial sectors in Russia and abroad. The biggest assets of Renova Group are shares in TNK-BP, UC RUSAL, IES, as well as in Swiss technology groups OC Oerlikon and Sulzer.

Sulzer was founded in 1834 in Switzerland, and currently manufactures machinery and equipment, as well as surface processing for more than 170 sites located all over the world.