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BRIEF-Sulzer to acquire control of Rotec's gas turbine service business
December 1, 2016 / 6:05 AM / in a year

BRIEF-Sulzer to acquire control of Rotec's gas turbine service business

Dec 1 (Reuters) - Sulzer AG :

* To acquire control of Rotec’s gas turbine service business

* Through this transaction, Sulzer becomes a sizable player in the russian gas turbine service market with revenues of about 40 million Swiss francs ($39.42 million)

* Rotec GT will be combined with Sulzer Russia’s service activities

* Rotec GT, headquartered in Moscow and majority-controlled by renova, is mainly active in the Russian market

* It achieved 2015 revenues of about 35 million Swiss francs and an EBITDA margin of slightly above 20 pct

* Renova will remain an investor with a 49 pct stake in the combined entity Source text - bit.ly/2fNOOT5 Further company coverage: ($1 = 1.0148 Swiss francs) (Gdynia Newsroom)

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