The Linde Groupannounced that it has sold the BOC Edwards Pharmaceutical Systems business to the Italian company IMA (Industria Macchine Automatiche) at an enterprise value of EUR 36 million. The contract was signed and will come into effect on the fulfilment of the usual closing conditions.
With approximately 340 employees, the business unit is active in packaging and processing equipment for the pharmaceutical industry and generated sales of approx. EUR 46 million and EBITDA of approx. EUR 2.5 million in the fiscal year ended September 2007. IMA's main activity is the production of pharmaceutical and food packaging machines. The company is listed on the Italian stock exchange.
Following the acquisition of The BOC Group plc and the decision to concentrate on the gases and engineering business, Linde concluded the sale of BOC Edwards' component business (vacuum pumps and semiconductor components) in May 2007. Linde will continue to develop the bulk and specialty gases businesses of BOC Edwards.