MEGTEC Systems, Inc. Acquires TurboSonic Technologies, Inc.
DE PERE, WI--(Marketwire - February 01, 2013) - MEGTEC Systems, Inc. (MEGTEC) is pleased to announce the acquisition of TurboSonic Technologies, Inc. (OTCQB: TSTA) (TurboSonic), effective immediately. The acquisition will include all of TurboSonic's current products: wet electrostatic precipitator (WESP) systems, semi-dry and wet scrubbers, Catalytic Gas Treatment (CGT)(TM) systems, evaporative gas cooling systems, DeNOx systems and related parts and services. TurboSonic will join the MEGTEC family as MEGTEC TurboSonic Technologies, Inc., and operate as a wholly-owned subsidiary of MEGTEC Systems, Inc., and as a separate business unit within MEGTEC's Environment, Climate and Energy (ECE) Group. The TurboSonic acquisition adds complementary product offerings to MEGTEC's environmental portfolio and process expertise in key industries.
Commenting on the transaction, Mohit Uberoi, President and CEO of MEGTEC Systems, said, "The acquisition adds substantially to MEGTEC's ECE business by bringing the highly regarded TurboSonic name and line of equipment under the MEGTEC umbrella. The new technologies broaden MEGTEC's environmental solution competencies from abatement and energy recovery, to include particulate and acid gas control and provide an opportunity for MEGTEC to supply its customers with packaged solutions including both particulate and volatile organic compound (VOC) control."
This transaction brings together two market-leading companies serving common end markets and will offer a broader range of products and services to its expanded customer base.
Edward Spink, CEO of TurboSonic, stated, "The acquisition will provide greater market exposure for TurboSonic's technologies and leverage MEGTEC's capabilities to offer complete solutions to customers worldwide."
MEGTEC (www.megtec.com) is a global design, engineering, manufacturing and services company providing air pollution control, resource recovery, and sustainable energy-related industrial equipment and services to a wide range of market sectors. MEGTEC has major operations in the US, France, Sweden, Germany, the UK, China, India and Australia, and maintains a worldwide service and spare parts support network.
TurboSonic (www.turbosonic.com) designs and supplies air pollution control and liquid atomization technologies to industrial customers worldwide with operations in Waterloo, Ontario, Canada and Milan, Italy. TurboSonic's innovative product offering, developed through extensive industry experience, helps companies in the Cement & Mineral Processing, Ethanol & Biofuels, Metals & Mining, Petrochemicals, Power Generation, Pulp & Paper, Waste Incineration, and Wood Products industries outperform regulatory requirements, improve performance and energy efficiency, reduce operating costs and recover valuable by-products.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mary Van Vonderen
MEGTEC Systems, Inc.
Direct phone: (920) 339-2787
MEGTEC Systems, Inc.
830 Prosper Road
P.O. Box 5030
De Pere, WI 54115-5030