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20 November, 2006 - 10:32 By Staff Reporter

Munters buys Italian heater firm

Huntingdon-based humidity control specialist, Munters has acquired Italian heater manufacturer, SIAL.Munters will control 100 per cent of the shares in the portable heater manufacturer in return for £13.2m in cash, plus a financial performance-related £1m.

SIAL, a Mondov, |taly-based company, manufactures heaters for commercial, industrial and agricultural applications, as well as evaporative coolers, with a projected turnover of £16.3m this fiscal year.

The acquisition will strengthen Munters' position in the climate-control market as it follows its "strategy of application expansion towards becoming a full climate system provider" according to the company.

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