Cavotec MSL Acquires Meyerinck

CHRISTCHURCH, New Zealand -- Global engineering group, Cavotec MSL Holdings Ltd. (CCC), announces the acquisition of Meyerinck Group, based in Fernwald, Germany, an international manufacturer of refueling and industrial loading systems. The transaction was made effective Nov. 1, 2008.

“We are very pleased to be joining Cavotec, and look forward to working within its international network. Cavotec’s global scope, combined with Meyerinck’s niche expertise, will lead to the mutual expansion of our core activities,” says Wolfgang von Meyerinck, Meyerinck Managing Director.

Established forty years ago, and based in Fernwald, Germany, Meyerinck designs and manufactures advanced refuelling and loading systems for the supply of aircraft fuel, and chemical and petrochemical liquids.

Meyerinck’s low maintenance and labour efficient systems supply commercial, military, rotary and fixed wing aircraft, and tanker vehicles at airbases and airports around the world. Meyerinck products are used at some 150 airbases and tanker farms, including Ramstein Air Force Base in Germany, Edwards Air Force Base in the United States, Misawa Airbase, Japan, Chung Joo Airbase, South Korea; and at Spain’s Murcia - San Javier Airport, and Schiphol and Munich airports.

In the chemical and petrochemical industries, Meyerinck provides systems that support customers such as Bayer, Linde and BP, with the loading and unloading of a wide range of liquids. Meyerinck’s stainless, steel-based technologies, work reliably with the vast majority of chemicals – including bio-diesels, ethanol, liquid petroleum gases, acids, and many other compounds – moving chemicals within facilities, to and from rail, road, and ship or barge.

“With the addition of Meyerinck’s technologies to our existing systems, we can now offer a comprehensive service package to our commercial and military airbase customers worldwide,” says Ottonel Popesco, Cavotec CEO. “We are confident the combination of Meyerinck’s well-developed product range, and our global sales network will further reduce Cavotec’s exposure to the current economic climate.”

Over the past three years, Meyerinck has generated sales of between EUR 5.0 million and EUR 7.0 million, and its future business potential is in-line with Cavotec’s own expectations. Consistent with its acquisition philosophy, Cavotec expects to further develop the Meyerinck business by supporting the current management team and employees.

On Nov. 1, 2008, Meyerinck began operating under the name Cavotec Meyerinck GmbH.

For more information visit www.cavotec.com.

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