Swedish manufacturer Alfa Laval has signed an umbrella agreement with the LU-VE Group to sell parts of its air heat exchanger business, related to commercial/industrial air heat exchangers, currently placed in the Greenhouse division. Terms of the agreement were not disclosed.
The product group commercial/industrial air heat exchangers represent the major part of the company’s Greenhouse division. It was moved there in 2016, along with a few other selected product groups, to give it the best possible conditions to improve its performance. The strategy has proven to be successful and the air heat exchanger business reported revenues of more than SEK 1 billion during the last year.
"This business has made big improvements the last two years both in terms of growth and profitability," says Tom Erixon, president and CEO of the Alfa Laval Group. "However, we concluded it would have even better opportunities to continue developing under the ownership of the LU-VE Group."
Alfa Laval will continue to supply air heat exchangers for heavy process industry applications and other types of heat exchangers for the HVAC and refrigeration industry.