The Linde Group has announced it has sold the BOC Edwards Pharmaceutical Systems business to the Italian company Industria Macchine Automatiche (IMA) at an enterprise value of €36m and to be effective upon fulfilment of standard closing conditions.
The business unit is active in packaging and processing equipment for the pharmaceutical industry, with approximately 340 employees and generating sales of around €46m in the fiscal year ending September 2007. The deal is considered to be a perfect fit for the Italian stock exchange-listed IMA, as its main activity is the production of pharmaceutical and food packaging machines.
Following the acquisition of The BOC Group and the decision to concentrate on the gases and engineering businesses, Linde concluded the sale of BOC Edwards’ component business, now rebranded and known simply as Edwards, in May 2007.
... to continue reading you must be subscribed
