The Committee on Foreign Investment in the US (CFIUS) has completed its review of the proposed sale by Babcock & Wilcox (B&W) of the MEGTEC and Universal businesses to Dürr AG.
According to the CFIUS, there are no unresolved national security concerns with respect to the sale, opening the way for B&W and Dürr to complete the transaction, which is expected shortly.
The MEGTEC and Universal businesses will be combined with Dürr’s current exhaust-air purification technology business to form a new environmental technologies group with annual sales of around €400 million and 1500 employees.
MEGTEC offers a range of emissions control technology for various industries, including the cement industry. Its products include fabric filters, wet and dry electrostatic precipitators (ESPs), and selective catalytic and selective non-catalytic reduction (SCR/SNCR) systems.
Read the article online at: https://www.worldcement.com/product-news/03102018/cfius-approves-megtec-and-universal-sale/