Alfa Laval has Signed an Agreement to Acquire Tranter PHE

STOCKHOLM, SWEDEN


STOCKHOLM, Sweden, Sept. 23, 2005 (PRIMEZONE) -- Alfa Laval -- a world leader in heat transfer, centrifugal separation and fluid handling -- has signed an agreement to acquire Tranter PHE from the U.S. company, Dover Corporation.

Tranter PHE is a well-known company and a premium brand in the design and production of plate and frame heat transfer products and welded heat transfer products for a wide range of applications. The company had a turnover in 2004 of about SEK 800 million (USD 110 million) and has approximately 450 employees globally in R&D, manufacturing and sales. Alfa Laval has agreed to pay approximately SEK 1.1 billion (USD 150 million) in cash. The closing of the transaction is subject to clearance from regulatory authorities. Tranter PHE will continue to be an independent market channel and will offer its own product range under the Tranter brand through its own distribution network. Tranter PHE will also maintain its own R&D and manufacturing units. The sales of Tranter PHE are equally divided between North America, Europe and the rest of the world, and the main product group is gasketed plate heat exchangers. Key application areas are HVAC (heating, ventilation and air conditioning), Process industries, Marine and Food.

Conference call today at 11.00 CET, for further information

For further information about the acqusition Alfa Laval arranges a conference call today, Friday, September 23, 11.00 CET, with CEO Lars Renstrom and CFO Thomas Thuresson. To participate in the conference call, please call +44 207 162 0082 or +46 8 5052 0110, code name: "Alfa Laval". The conference call will be available as a replay, please call +44 20 7031 4064, access code "676 866".

Editor's notes: Alfa Laval is a leading global provider of specialized products and engineering solutions based on its key technologies of heat transfer, separation and fluid handling. The company's equipment, systems and services are dedicated to assisting customers in optimizing the performance of their processes. The solutions help them to heat, cool, separate and transport products in industries that produce foods and beverages, chemicals and petrochemicals, pharmaceuticals, starch, sugar and ethanol. Alfa Laval's products are also used in power plants, aboard ships, in the mechanical engineering industry, in the mining industry and for wastewater treatment, as well as for comfort climate and refrigeration applications. Alfa Laval's worldwide organization works closely with customers in nearly 100 countries to help them stay ahead in the global arena. Alfa Laval is listed on the Stockholm Exchange and, in 2004, posted annual sales of about SEK 15 billion. The company has some 9,500 employees. For further information, please visit the Alfa Laval website at www.alfalaval.com.

Tranter PHE is a premium brand in the liquid heat exchanger market. Tranter PHE is represented in countries all over the world by a network of sales companies, licensees and agents. The Tranter PHE headquarters and Sales and Marketing office, responsible for North and South America, are located in Texas, USA. The Sales and Marketing office for Europe, Asia, Australia, Middle East and Africa, is located in Stockholm, Sweden. The company have quality assured factories in the U.S., Sweden and India.

Dover Corporation is a diversified industrial manufacturer with $6 billion in annualized revenues from operating companies that manufacture specialized industrial products and equipment. Further information can be found at www.tranterphe.com and www.dovercorporation.com

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