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ERIKS ANNOUNCES THE ACQUISITION OF C&C INDUSTRIES, INC.
ERIKS NV, a Netherlands-based industrial service provider is pleased to announce it has acquired the shares of C&C Industries, Inc. and CCTX Flow Products, Inc. (“C&C” and “CCTX”).
C&C and CCTX are leading providers of high quality valves for a variety of industrial applications with more than two decades of experience. The companies have a strong focus on upstream
(drilling and exploration), midstream (gas gathering, compressor stations, metering) and downstream (refineries and petrochemical plants) applications in the oil and gas markets of the US and Canada. C&C is headquartered in Houston, Texas. CCTX operates from Edmonton, AL, Canada.
The acquisition of C&C and CCTX positions ERIKS for even stronger access to the North American oil and gas markets. The acquisition also expands the existing ERIKS sales and distribution network by adding high quality products, well-known brands and a professional, customer-focused workforce. Finally, this investment is done in support of a product category that is an important part of ERIKS’ global growth strategy.
C&C and CCTX have a well-established business model of providing “Valve Solutions through Partnered Distribution”. The companies will continue to implement this channel strategy.
Both C&C and CCTX will become a part of the ERIKS North America organization.
About ERIKS
Founded in 1940, ERIKS is a leading international industrial service provider offering a wide range of industrial products and technical services, including valves, fabricated hoses, gaskets and sealing products. ERIKS’ current product range, including the technical and logistics services that form part of it, is divided into five core activities: flow technology; sealing technology; bearing and power transmission, including electromechanical services and condition monitoring; industrial plastics; and tools and maintenance products. ERIKS currently consists of more than 60 companies with branches in 27 countries, serving over 200,000 customers. In 2012, ERIKS generated net sales of €1.8 billion (USD 2.3 billion). ERIKS is a wholly owned subsidiary of SHV Holdings N.V., a private-held family company with net sales in 2012 of €20.0 billion (USD 27.0 billion). For more information visit http://eriks.com.
