GH Electrothermia (GH) and Induction Atmospheres (IA) announced that both companies have signed a letter of intent for GH to purchase a majority interest in IA. By combining their resources, technology and engineering expertise, both companies expect to increase sales and expand into new markets. GH will provide international sales and service for IA’s turnkey induction-heating systems, and IA will provide sales, service and production of GH’s product line to the United States. GH’s purchase is subject to customary provisions and requirements, with completion of the transaction targeted by the end of 2009.
GH Electrothermia, headquartered in Valencia, Spain, is a worldwide supplier of induction-heating systems for industrial heat treating, forging and many other applications. GH’s product line focuses primarily on automotive, gear, wire and tube/pipe heating processes. Rochester, N.Y.-based Induction Atmospheres is a manufacturer and system integrator of turnkey induction-heating systems for aerospace, medical and energy production applications.
GH Electrothermia to Purchase Majority Interest in Induction Atmospheres
September 17, 2009