acquisition Industrias Tey in Spain

Aalberts takes over Industrias Tey (heat treatment) in Spain

Aalberts Industries N.V., with activities in the areas of Industrial Services and Flow Control, has reached agreement with the shareholders of Industrias Tey, S.L. on the takeover of 100% of the company’s shares. Industrias Tey is based in the Basque region of Spain and has an annual turnover of around eur 5 million.

Industrias Tey specialises in vacuum heat treatment processes and is Spain’s market leader in this technology. A significant proportion of its turnover comes from the aerospace industry – in particular (indirectly) from AIRBUS production.

Industrias Tey will work closely with the other companies in Aalberts Industries’ Spanish network and will make an important contribution to the further development of the vacuum treatment markets in Barcelona and Madrid.

The current management team will remain in place and will report to the Spanish management of Aalberts Industries’ group Material Technology.

The takeover is being financed from our own resources. Industrias Tey’s figures will be included in the consolidation as of 1 May 2005. The takeover will contribute directly to growth in profit per share.