28th Sep 2015 13:03
LONDON (Alliance News) - Spirax-Sarco Engineering PLC on Monday said it has acquired the steam distribution unit of Colombian distributor Casaval SA for GBP6.5 million in cash.
Spirax-Sarco said the Colombian market looks attractive at present, given the broad base of industries using steam. The operation will not only help it tap the Colombian market more effectively, but will also become a hub for its operations in northern Latin America.
Shares in the FTSE 250-listed company, which makes peristaltic pumps and fluid path technologies, were up 0.1% to 2,825.00 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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