Siemens Acquires FCE Furnace Company
Acquisition Will Enhance Siemens Metals Technologies Portfolio, Expand Market Reach
ATLANTA, April 25, 2012 /PRNewswire/ -- Siemens Industry, Inc. (NYSE: SI) today announced it has signed and closed a purchase agreement to acquire 100 percent of the shares of FCE, LLC, a furnace company serving the metals industry, headquartered in Huntingdon Valley, Pa. Financial details of the transaction will not be disclosed.
FCE will operate within the Metals Technologies (MT) business unit of the Siemens Industry Sector, and will become the global center of competence for furnaces. The company will continue to operate from its Pennsylvania location and its approximately 20 employees will be integrated into the Siemens business structure.
"The acquisition of FCE will enable Siemens to expand and strengthen its portfolio in furnace technologies, which is vital to Siemens' growth strategy," said Aashish Gupta, vice president, Metals Technologies business unit, Siemens Industry, Inc. "FCE is known for its superior expertise in engineering customized furnace technology solutions as well as for its dedicated employees' extensive process and application know-how. Our combined portfolio will enable Siemens to ensure the seamless performance of the entire metals facility while providing our customers with the products, solutions and services to be successful."
"I am confident that being a part of Siemens will enable access to new markets and the investment necessary to compete in a global marketplace due to a broader product portfolio and international sales force," said Dave Rohrbaugh, president, FCE. "Our expertise combined with Siemens' global structure will result in the ability to address larger projects, gain greater market share and ultimately elevate our business to a more competitive position that will benefit customers, employees and partners."
Founded in 2003, FCE provides core sales, engineering, equipment supply and project management expertise in strip and plate heat treating furnaces. FCE furnace product lines include being an authorized licensee for Drever Company technology as well as continuous strip galvanizing and annealing, and plate quench and temper lines. The F&D Furnaces product lines of the company include quench & temper furnaces for API pipe and tube for the fast growing global energy markets as well as specialized heating furnaces for bar, plate and billets, large stress relieving furnaces, and motor lamination lines.
About FCE, LLC
Headquartered in Huntingdon Valley, Pa., FCE, LLC is a leading furnace company serving the metals industry. Since 2003 the company has worked closely with its customers to provide extensive industry knowledge to service the global furnace market. The company's mission is to provide outstanding engineering, process expertise and furnace equipment at a competitive price to help optimize client investment.
Siemens Industry Sector is the world's leading supplier of innovative and environmentally friendly products, solutions and services for industrial customers. With end-to-end automation technology and industrial software, solid vertical-market expertise, and technology-based services, the sector enhances its customers' productivity, efficiency and flexibility. With a global workforce of more than 100,000 employees, the Industry Sector comprises the Industry Automation, Drive Technologies and Customer Services Divisions as well as the Metals Technologies Business Unit. For more information, visit http://www.usa.siemens.com/industry.
The Metals Technologies Business Unit (Linz, Austria), part of the Siemens Industry Sector, is one of the world's leading life cycle partner for the metallurgical industry. The Business Unit offers a comprehensive technology, modernization, product and service portfolio as well as integrated automation and environmental solutions covering the entire lifecycle of plants. For more information, visit www.siemens.com/metals.
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