Elster consensus sales for 2015 are estimated to be $ 1.8 billion. The price translates to approximately 12.6 times Elster’s estimated 2015 consensus earnings before interest, taxes, depreciation, and amortization (EBITDA). The agreement is subject to customary closing conditions, including regulatory review and Melrose shareowner vote.
"Elster has outstanding technologies, brands, energy efficiency know-how, and global presence, all of which we are very well-positioned to build on. Elster also creates a new platform for acquisition targets for Honeywell that will be additive to the business’ growth and global presence. We will see immediate benefits to Honeywell’s portfolio, accelerating into 2016 and 2017. This is a great acquisition for Honeywell and our shareowners," said Honeywell Chairman and CEO Dave Cote.
ANDRITZ receives final acceptance for pickling line and acid regeneration plant at voestalpine, Austria
International technology group ANDRITZ has successfully completed the supply of a continuous pickling line, acid regeneration plant, acid purification plant, and silicon removal systems to voestalpine in Linz, Austria.