Aalborg Industries has signed a binding agreement with the owners of the Australian company Gosfern Pty Ltd, concerning the acquisition of 100% of the company. Gosfern’s core competence lies within combustion technology and related control and safety systems. The company has, over the past decade, developed a strong position as supplier to special vessels for the exploration, production and preprocessing of oil (FPS) and has today a considerable market share globally.

Driven by the increasing oil prices and the strong global economic growth, in particular in Asia, this business segment has developed very positively over the past decade. As a result of a focused strategy, Aalborg Industries has gained a position as the market leading boiler supplier to the FPS segment.

With the acquisition of Gosfern, Aalborg Industries will become the only supplier of complete boiler plants with related combustion equipment, automation and safety systems to the maritime oil and gas sector.

Gosfern was founded in 1989 by the present owners. The company’s head office is located north of Sydney, Australia, and employs approximately 50 people. The main activities involve sales, engineering, manufacturing and commissioning of combustion plants. Gosfern’s annual turnover is approximately DKK 100m (approx. USD 17.2m). The company has sales representations in Australia, Singapore and the USA.

Aalborg Industries A/S

Jan Vestergaard Olsen

President & CEO of the Aalborg Industries Group, tel. +45 99 30 40 00

Further information about Gosfern, please see: http://www.gosfern.com.au


About Aalborg Industries:
Aalborg Industries is an international group based in Denmark with subsidiaries in Finland, the Netherlands, Dubai, Singapore, Japan, China, Indonesia, Korea, Brazil, the USA and Vietnam. A network of agents support the company’s own sales activities. The Group’s turnover in 2005 was USD 285 million.

The manufacturing of the Group’s products takes place in its own factories in Denmark, China, Brazil, Indonesia and Vietnam as well as at selected external outsourcing partners.


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