EVAPCO announces expansion into South America
Taneytown-headquartered Evapco, Inc. recently announced it has acquired majority ownership of the Refrigeration and Air Conditioning Division of Semco, located in the Sao Paulo, Brazil area. The former Semco Refrigeration and Air Conditioning Division has been renamed to operate under the official name Evapco Semco Equipamentos de Refrigeração Ltda.
Semco leadership and staff in Brazil will continue with the new Evapco owned company, including Jose Alignani Neto continuing as CEO. As a part of Evapco’s global corporate structure, Jose Alignani Neto will report to Adam Michel in Taneytown, Maryland USA (Evapco’s Vice President of Finance).
Evapco will now have a manufacturing presence in South America in pursuit of its desire to grow a global
as an industry leader in the HVAC, Refrigeration, Power
and Industrial Process markets.
Semco is now able to grow its business in South America by incorporating Evapco's product lines into its offerings, including the latest advancements in heat transfer efficiency, water conservation and sound reduction technology, according to a release.
"This is one of those '2+2=5' business opportunities that will benefit many customers in South America," said William Bartley, president and CEO of Evapco, Inc., in the release. Bartley added that the merger has benefits for both companies. It gives Evapco a manufacturing presence in South America and adds the high quality employees of Semco into the company's business culture; driven by the philosophy “People Make the Difference.”
"For Semco, the marriage with Evapco makes sense because of technological opportunities," said Alexandre Bonfim de Azevedo, managing partner of Semco Partners Ltda in a prepared statement. Evapco's technological advancements will "provide the leverage required to propel the business in South America to levels unattainable without Evapco's involvement," he said.
EVAPCO, Inc. is an employee-owned global manufacturer of heat transfer solutions for the commercial HVAC, industrial refrigeration, power generation and industrial process markets, according to the release. Evapco products are now manufactured in 20 locations in 10 countries around the world and supplied through a sales force of over 170 offices.
In Carroll County, Evapco, Inc. employs about 440 full-time workers.
Sources: Evapco statement, Carroll County Times