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ERIKS expands its activities in the USA

From

Executive Board ERIKS group nv

Telephone

+31-72 54 75 888

Date

15 September 2006

Subject

THE ERIKS GROUP EXPANDS ITS ACTIVITIES IN THE USA

The ERIKS group has reached an agreement in principle to acquire all shares of Turpen & Associates Inc in Tulsa, Oklahoma, USA.

The activities of Turpen & Associates comprise the marketing, sale, and the customizing of products and services in the field of sealing technology, industrial plastics and bearings.

With approximately 45 employees Turpen achieves annual sales of USD 11 million and supplies its products directly to industrial manufacturers (OEM customers) in the oil and gas industry which is located in Oklahoma and the surrounding states.


Sales by product group can be broken down as follows:
Sealing technology
- Flange gaskets                    10%
- Rubber technology               10%
- O-rings                               30%
- Dynamic sealing elements    25%
                                            75%
- Bearings                             10%
- Industrial plastics                 15%
                                           100%

The activities of Turpen fit close to those of the existing companies of the cluster ERIKS USA. This acquisition fits in with ERIKS’ policy of strengthening its position in the USA as a specialized knowhow driven distributor in sealing technology and industrial plastics. There are good opportunities for synergy with the three existing group companies in Dallas, Milwaukee and Seattle.

Through this acquisition sales of cluster ERIKS USA will increase to well over USD 35 million and the number of employees to 120. It is expected that the due diligence will be finalized the coming month and that the final contracts will be signed by the end of October. This acquisition will be fully financed from the company’s own resources.

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This is a printed version of ERIKS FlangeGaskets.info of ERIKS nv.
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