Alfa Laval announces $95 mln energy transition-related investment (updated)

Electrolux Professional AB (publ)

29/11/2022 07:53

(Adds detail)
       Nov 29 (Reuters) - Swedish engineering group Alfa Laval
 ALFA.ST  will invest 1 billion Swedish Crowns ($95.12 million)
on efforts to boost its capacity in areas related to global
energy transition, it said on Tuesday. 
    The investment aims to raise capacity in the manufacture and
distribution of gasketed heat exchangers, which are used in both
cooling and heating processes and are more energy efficient than
counterparts such as shell-and-tube systems.
    Heat exchangers are used to control or regulate the
temperature of products in the pharmaceuticals and food
industries among others. They are also used in district heating
systems. 
    "While we are concerned about the global economy in the
short-term, the demand trends remain strong, especially for
technologies needed to rebuild the global energy system," said
Chief Executive Tom Erixon.
($1 = 10.5133 Swedish crowns)
 (Reporting by Marie Mannes
Editing by David Goodman)
 ((marie.mannes@thomsonreuters.com))