Babcock & Wilcox Power Generation Group, a subsidiary of Babcock & Wilcox Company (B&W, NYSE: BWC)announced that it has signed an agreement to acquire industrial processes solutions provider MEGTEC for $155 million.
MEGTEC will operate as B&W MEGTEC, a wholly owned subsidiary of B&W PGG.
Wisconsin-based MEGTEC designs, engineers, manufactures and services air pollution control systems and coating/drying equipment. MEGTEC’s technologies range from pollution abatement and carbon management to energy storage and recovery, and environmental compliance.
The company has operations in the U.S., Canada, France, Italy, Sweden, Germany, the United Kingdom, China, India and Australia.
The purchase is expected to be completed by June 30.
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