Orlando, FL, October 6, 2005– Siemens Power Generation (PG) is expanding its business portfolio by acquiring Wheelabrator Air Pollution Control Inc., a company that designs and supplies air pollution reduction products and solutions for the coal-fired power and industrial markets. The deal was closed Oct. 5, 2005 by Siemens Power Generation Inc. and Aquilex Corp., a private equity firm specializing in the energy industry that had Wheelabrator as part of its holdings. The terms of the transaction were not disclosed.
The goal of this acquisition is to expand Siemens’ offering of market-driven solutions for cleaner, more efficient power generation infrastructure.
“The existing global coal-fired power infrastructure will continue to be a mainstay of the power industry. Efficiency and the environment are critical decision factors for our customers thereby fueling a growing global demand for pollution prevention and controls,” said Randy H. Zwirn, president and CEO of Siemens Power Generation, Inc. and member of the PG Group executive management. “With this in mind, we are committed to helping our customers address this demand by delivering a broad portfolio of highly efficient and cost-effective solutions that have a minimal impact on the environment.”
With year-to-date sales of $116 million, Wheelabrator is an air pollution control company with over 90 years of operating experience in the industry. With the acquisition Wheelabrator will become part of the Siemens PG global services division.
Strategically, Siemens is hoping this combination will match Wheelabrator’s emissions reduction products with the Siemens PG existing global expertise in highly efficient power plant equipment, turnkey project management and plant retrofits.
Siemens PG further expanded its portfolio in 2004 by acquiring Bonus Energy A/S, one of the world’s five leading manufacturers of wind turbines, thus firmly securing its foothold in the renewables market.