Power Shift! ANDRITZ AG’s Bold Acquisition of Diamond Power International Nears Completion

ANDRITZ AG, a global leader in industrial technology, has announced its acquisition of Diamond Power International, a move aimed at strengthening its recovery and power boiler service business. The transaction, valued at $177 million, is expected to close within 30 to 60 days2.

 

Key Highlights of the Acquisition

Statements from Industry Leaders

Jarno Nymark, ANDRITZ Executive Board member, emphasized that boiler cleaning technologies are becoming increasingly important due to the variety of fuels used in modern power plants. He stated that the acquisition will allow ANDRITZ to provide comprehensive and innovative solutions for efficient boiler operations.

 

Christopher Riker, B&W Executive Vice President and COO, expressed confidence in the smooth transition of Diamond Power’s business, ensuring continued support for customers in the global power and industrial markets.

 

Outlook on ANDRITZ AG’s Expansion

With this acquisition, ANDRITZ AG is set to reinforce its leadership in industrial technology, offering enhanced boiler cleaning solutions and process optimization products, including high-definition and infrared light cameras, pyrometers, and temperature measurement software.

 

Sources: EQS News, Investing.com, Yahoo Finance