Alstom has completed the sale of its steam auxiliary components business to European investment firm, Triton for €730 million.
The sale, first announced in November 2013, was part of Alstom's non-core asset disposal programme, and was approved by Alstom's board of directors in March 2014.
Alstom says the corresponding activities, representing revenues in excess of €400 million have now been fully separated and transferred from Alstom to the newly founded ARVOS Group, with Triton as new sole shareholder. The deal included transfer of the company's 1700 employees worldwide.
The steam auxiliary components business supplies air preheaters and gas-gas heaters for thermal power generation and industrial facilities, heat transfer solutions for industrial processes, and grinding mills used in industrial applications and for power generation facilities below 100 MWe.
AVROS will be headquartered in Heidelberg, Germany with operations in Germany, the USA, Japan, China, India, Brazil, Switzerland and the Czech Republic. It will continue to be a major supplier to Alstom.
Power related mills activity above 100 MWe remains with Alstom.
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