GEA VIEX Inc.

GEA VIEX Inc.

March 25, 2008 11:09 ET

GEA Takes Over Canadian Company ViEX Inc.

Expanding the plate heat exchanger product range and increasing North American business

NEWMARKET, ONTARIO--(Marketwire - March 25, 2008) - GEA PHE Systems, a leading international supplier of plate heat exchangers (PHE), has acquired the assets of Canadian PHE specialist ViEX, based in Newmarket near Toronto. Hence, GEA continues their successful growth path and now offers the most extensive range of brazed, gasketed and fully welded PHE. ViEX emerged of Nixon Plate Coils Ltd., founded in 1954 in Toronto. The new GEA ViEX will strengthen GEA's North American business and provide the best possible addition to the GEA PHE Systems product range worldwide with fully welded GEABloc plate heat exchangers.

ViEX focuses on fully welded PHE for the chemical/petrochemical industries and for oil & gas applications. Their high performance, fully welded PHE work in pressure and temperature ranges for which GEA PHE Systems previously offered only a limited selection of products. The Canadian developer brings many years of product and manufacturing experience as well as in-depth process knowledge. This level of expertise will be shared with all the other companies within the GEA PHE Systems.

The USA is the world's biggest single market for heat exchangers. Since 2007, GEA PHE Systems has been producing brazed and gasketed PHE for the American market in a state of the art plant in York, Pennsylvania. With production facilities for fully welded PHE at GEA ViEX in Toronto, the whole product range can now be manufactured on the North American continent. This will improve service and reduce delivery times for American customers. At the same time, the proximity to the user and knowledge of the regional market will help to shape future product development.

The PHE market is enjoying a worldwide boom. As a result, GEA PHE Systems has also made considerable investments over the last few months in their European and Asian production sites. The Swedish plant in Landskrona and in Nobitz-Wilchwitz in Germany received additional press lines, brazing ovens and test facilities. The existing GEA Ecoflex plant in Sarstedt, which was opened in 2003 only, has already been expanded with an additional 5,000 m2 production hall, to enable a fully welded PHE production.

GEA PHE Systems - The Heat Transfer Company

Within the GEA Process Equipment Division of the international GEA Group, GEA PHE Systems is responsible for plate heat exchanger technology. Strong individual companies: GEA Ecoflex, GEA Ecobraze, GEA WTT, GEA PHE Systems NA and now also GEA ViEX with production locations in Germany, Sweden, the USA, Canada and India produce gasketed, fully welded and brazed PHE for worldwide distribution for use in almost all industrial applications. GEA EcoServe - the GEA PHE Systems service organisation - operates customer service centres in many countries to provide a rapid and competent maintenance and spare parts service all around the world.

With about 1,000 employees, GEA PHE Systems achieves annual turnover of some hundred million Euros.

To view the GEA ViEX Inc. offices in Newmarket, Ontario, Canada, please visit the link below:

http://media3.marketwire.com/docs/ViEXbuilding.jpg

To view a GEABloc plate heat exchanger, please visit the link below:

http://media3.marketwire.com/docs/GEABloc.jpg

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