Acquisition: German aviation, loading systems group Meyerinck

We are pleased to announce the acquisition of Meyerinck Group, based in Fernwald, Germany, a leading international manufacturer of refuelling and industrial loading systems. The transaction is effective as of November 1, 2008.

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.

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 our own expectations. Consistent with its acquisition philosophy, we expect to further develop the Meyerinck business by supporting the current management team and employees.

As of November 1, 2008, Meyerinck will operate under the name Cavotec Meyerinck GmbH.