On June 13, Sulzer agreed to acquire both Grayson Armature businesses-Grayson Armature Large Motor Division, Inc. (Houston) and Grayson Armature Orange Texas, Inc.-for an enterprise value of USD 42 million (CHF 38 million). Through this acquisition, Sulzer will become one of the largest independent providers of electromechanical services in the Houston bay area. Grayson Armature expects revenues of USD 35 million (CHF 31 million) in 2014. Grayson Armature will add electromechanical capabilities to Sulzer's Rotating Equipment Services division, complementing its range of services for rotating equipment. Closing is scheduled to take place early next month.
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