Siemens acquires FCE Furnace

Siemens Industry, Inc. (NYSE: SI) today announced it has signed and closed a purchase agreement to acquire 100 percent of the shares of FCE, LLC, a furnace company serving the metals industry, headquartered in Huntingdon Valley, Pa. Financial details of the transaction will not be disclosed.

FCE will operate within the Metals Technologies (MT) business unit of the Siemens Industry Sector, and will become the global center of competence for furnaces. The company will continue to operate from its Pennsylvania location and its approximately 20 employees will be integrated into the Siemens business structure.

"The acquisition of FCE will enable Siemens to expand and strengthen its portfolio in furnace technologies, which is vital to Siemens' growth strategy," said Aashish Gupta, vice president, Metals Technologies business unit, Siemens Industry, Inc. "FCE is known for its superior expertise in engineering customized furnace technology solutions as well as for its dedicated employees' extensive process and application know-how. Our combined portfolio will enable Siemens to ensure the seamless performance of the entire metals facility while providing our customers with the products, solutions and services to be successful."

"I am confident that being a part of Siemens will enable access to new markets and the investment necessary to compete in a global marketplace due to a broader product portfolio and international sales force," said Dave Rohrbaugh, president, FCE. "Our expertise combined with Siemens' global structure will result in the ability to address larger projects, gain greater market share and ultimately elevate our business to a more competitive position that will benefit customers, employees and partners."

Founded in 2003, FCE provides core sales, engineering, equipment supply and project management expertise in strip and plate heat treating furnaces. FCE furnace product lines include being an authorized licensee for Drever Company technology as well as continuous strip galvanizing and annealing, and plate quench and temper lines. The F&D Furnaces product lines of the company include quench & temper furnaces for API pipe and tube for the fast growing global energy markets as well as specialized heating furnaces for bar, plate and billets, large stress relieving furnaces, and motor lamination lines.