Rochester, NY, September 19, 2009 --(PR.com
)-- GH Electrothermia S. A. (GH) and Induction Atmospheres (IA) announced today that both companies have signed a letter of intent for GH to purchase a majority interest in Induction Atmospheres. By combining their resources, technology and engineering expertise, both companies expect to increase sales and expand into new markets.
“Induction Atmospheres is very excited to become part of the worldwide GH Group”, said IA President and CEO Steve Skewes. “They will provide international sales and service for our turnkey induction heating systems, and we will bring sales, service and production of the highly respected GH product line into the United States.”
“Induction Atmospheres brings new products and markets to the worldwide GH Group”, said GH Group President José Vicente González. “With their staff and facilities we will be able to effectively deliver our induction heating systems into the United States. This is exactly the type of synergistic relationship we were looking for in a US based company. We are very excited about the future of our companies.”
“Both companies use the same computer design systems for product development, so we're looking forward to advanced engineering collaboration and easy product design transfer.” continued Mr. Skewes. “This really is one of those rare win-win business scenarios, and we look forward to a long and profitable relationship.”
Induction heating is a non-contact, fast and accurate heating method which saves manufacturers space, time and money. Recently selected by Industrial Heating Magazine as one of “10 Technologies to Watch” in its January 2009 edition, Induction Atmospheres systems provide a very lean, environmentally sound, energy-efficient industrial heating process that reduces fossil fuel consumption.
GH’s purchase is subject to customary provisions and requirements, with completion of the transaction targeted by the end of 2009.
About GH Electrothermia
GH Electrothermia S.A., headquartered in Valencia, Spain, is a leading worldwide supplier of induction heating systems for industrial heat treating, forging, and many other applications. Since 1961, The GH Group has installed over 3,000 systems in Europe, Asia, and South America. The GH product line focuses primarily on automotive, gear, wire, and tube/pipe heating processes. For more information, please visit www.ghe.es
About Induction Atmospheres
Induction Atmospheres LLC, founded in 2002, is a leading manufacturer and system integrator of turnkey induction heating systems for aerospace, medical and energy production applications. The company recently completed an expansion to a 34,000 sq. ft. manufacturing facility in Rochester NY.