3/1/2016 8:00 AM
NIBE Industrier AB has acquired 100% of the outstanding shares of Heatron, Inc., of Leavenworth, Kansas, USA. Heatron´s operations will become part of NIBE Element.
Since 1986, Heatron´s manufacturing facilities in Leavenworth, Kansas and Erie, Pennsylvania have produced highly engineered specialty heating elements and components for a wide range of applications. Heatron offers its customers complete thermal management solutions from initial concept, design and testing to complex manufacturing based on heating technologies which include, flexible, cartridge and specialty heaters as well as thick film. Primary end markets include, among others, Medical & Life Sciences, Semiconductors,
Aviation & Aerospace, 3D & Specialty Printing, Food Service and Industrial Equipment.
Heatron´s Leavenworth, Kansas and Erie, Pennsylvania operations include 240 employees and report combined sales of US$ 30.0 million with an operating margin above 10%. The company will continue to run its operations and service its customers from its Leavenworth and Erie manufacturing facilities. The management of the company will remain the same as before the acquisition under the continued leadership of H.B Turner as CEO.
“The acquisition of Heatron, Inc. represents another critical step in our strategy to become the leading heating element supplier in North America. Heatron will provide us with dynamic, albeit stable, new end markets in addition to complementary product lines and new technologies. This, in turn, will provide us with yet another platform for profitable growth in North America” says Gerteric Lindquist, President & CEO of NIBE Industrier AB.
Heatron will be consolidated into the NIBE organization effective March 1, 2016.
For further information
Benny Torstensson, CIO: +46 433 73 070
NIBE Industrier AB (publ) Box 14, 285 21 Markaryd · VISITING ADDRESS Hannabadsvägen 5, Markaryd · email@example.com · +46 (0)433 27 30 00