With this acquisition, Yara can provide an end-to-end service that includes the production of Selective Catalytic Reduction (SCR) and Selective Non-Catalytic Reduction (SNCR) systems to reduce nitrogen oxide (NOx) emissions, along with the reagents needed to operate them.
“Our acquisition of STRABAG’s flue gas cleaning division will increase our capacities in, and beyond, NOx control systems. It will also give us access to great teams in key growth markets like Asia and Eastern Europe, where we can help customers meet increasingly stringent environmental regulations,” said Yves Bonte, Senior Vice-President and head of Yara’s Industrial Segment. “We continue on our path towards being a global leader in environmental solutions.”
The STRABAG acquisition is part of Yara’s broader strategic direction to invest in products and services that address the related issues of environment, resources and food security. It follows Yara’s January, 2014, acquisition of H+H Umwelt-und-Industrietechnik GmbH, which primarily produces SCR systems to reduce Nitrogen Oxide (NOx) emissions on ships. In April this year, Yara also took a majority stake in Green Tech Marine, a leading sulfur oxide (SOx) scrubber supplier to the marine industry.
STRABAG, a leading company in the construction services industry, is divesting its flue gas cleaning division in order to focus on its core construction services offerings.
"The sale of our Flue Gas Treatment activities to Yara confirms our way to concentrate on the core business of construction and to expand our activities to other regions," said Thomas Birtel, CEO of STRABAG SE. "We expect this deal will lead to a closer cooperation with Yara in the field of industrial construction, where we will join our forces. This enables us to offer the best combination of technical expertise and local competence to our clients."
The transaction is subject to approval by the Austrian competition authority and other regulatory approvals. It is expected to be completed by the end of August 2014.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/europe-cis/02062014/yara_acquires_flue_gas_cleaning_business_from_strabag_286/