Fulton Companies has acquired Costerm Swiss AG, a specialised industrial burner and engineering company based near Zurich, Switzerland.
“We are very pleased to have Costerm join the global Fulton family,” says Kevin LaMontagne, CFO of Fulton, which manufacturers steam, hydronic and thermal fluid heat transfer products and energy management solutions.
Mr LaMontagne addes “Plans are in development to share R&D resources, use Costerm burners on large Fulton boilers, sell Fulton products through the Costerm sales office, and sell Costerm products through Fulton sales offices.”
The deal was completed on December 20th 2011.
Costerm’s complex custom engineering projects, product sales, service and aftermarket parts are managed from Schwerzenbach, Switzerland, and the burners are manufactured in the Czech Republic.
The main sales markets of Costerm are in Europe, but Costerm also sells, commissions and services its products globally and to several major corporations.