Power Engineering - Siemens acquires Wheelabrator Air Pollution Control

6 October 2005 - Siemens Power Generation has expanded its business portfolio by acquiring Wheelabrator Air Pollution Control, Inc., a leader in the design and supply of air pollution reduction products and solutions for the coal-fired power and industrial markets.

The deal was closed Wednesday by Siemens Power Generation, Inc. and Aquilex Corporation, a private equity firm specializing in the energy industry that had Wheelabrator as part of its holdings. The terms of the transaction were not disclosed.

"The existing global coal-fired power infrastructure will continue to be a mainstay of the power industry. Efficiency and the environment are critical decision factors for our customers thereby fueling a growing global demand for pollution prevention and controls," said Randy H. Zwirn, president and CEO of Siemens Power Generation, Inc. and member of the PG Group Executive Management. "With this in mind, we are committed to helping our customers address this demand by delivering a broad portfolio of highly efficient and cost-effective solutions that have a minimal impact on the environment."

With year-to-date sales of $116.4m, Wheelabrator is a leading air pollution control company with a track record of over 90 years of operating experience in the industry; a broad and technologically advanced air pollution control product offering, including wet and dry scrubbing systems, fabric filter systems and dry and wet electrostatic precipitators; and significant growth in its bookings and backlog over the last 18 months.

"The combination of the Wheelabrator technologies with Siemens' vast experience and broadly integrated portfolio is an exciting opportunity for the employees of Wheelabrator," said Tony DoVale, president of Wheelabrator Air Pollution Control, Inc. We are looking forward to leveraging Siemens' extensive resources so that we can grow at an even faster rate than we've been able to achieve so far on our own."

Wheelabrator is headquartered in Pittsburgh, Pennsylvania, and has operations in Mil-ton, Ontario, Canada. Siemens also has a significant presence in the Pittsburgh area with more than 600 employees working in the region. It will become part of the Siemens Power Generation global services division.

Strategically this combination matches Wheelabrator's industry leading emissions reduction products with the Siemens PG existing global expertise in highly efficient power plant equipment, turnkey project management and plant retrofits.

Siemens PG further expanded its portfolio in 2004 by acquiring Bonus Energy A/S, one of the world's five leading manufacturers of wind turbines, thus firmly securing its foothold in the renewables market. "Our acquisitions of Bonus Energy and Wheelabrator demonstrate our commitment to expand our product and solution portfolio in alignment with the changing needs of our customers," said Zwirn.

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