Econosto acquisition enhances ERIKS market leadership

ERIKS’ acquisition of the Royal Econosto Group in the summer of 2008 has brought together 200 years of experience in valves, industrial hoses and flange gaskets. Econosto has a solid market position in ship building and the marine industry, in heating, ventilating and cooling and in power generation and oil and gas. Econosto is successful in project-based valve supply to its core markets and its sales are split 50/50 between the MRO sector and the projects sector.

According to Royal Econosto Group CEO Frank Van Os, who has joined the board of the ERIKS Group, “This combination has not been driven by a desire to cut costs. There are only a few countries where both companies are established. For example, Econosto only has a few branches in the UK whereas ERIKS has dozensof Service Centres from which we can also market the Econosto products.”

With the acquisition of Royal Econosto nv, the combination of ERIKS and Econosto has become the undisputed European market leader in valves, industrial hoses and flange gaskets. ERIKS now realises annual sales of well over €1.2 billion.