ERIKS Group expands in Poland

Industrial Distribution staff -- Industrial Distribution, 3/31/2008 6:08:00 AM

The Dutch PT/MC products distributor acquired TIM Sp.j.w. and Hydro-met s.c., a pair of sealing components, power transmission and MRO products distributors. Together, the companies have 18 employees and annual sales of roughly $3 million.

ERIKS also made a nearly $200 million bid for Royal Econosto NV, a Dutch industrial valve manufacturer/distributor.

The offer trumps a roughly $185 million bid for Econosto from Gilde Buy Out Partners BV, the Bloomberg news service reported.

Gilde has five days to make a counter offer.

If Eriks wins out, it would gain access to the oil and gas refinery, chemical plants, breweries and shipbuilding markets.