BOC has acquired Environmental Management Corporation (EMC), a privately held St. Louis, MO-based water services company, for $50 million in cash.
An additional $10 million could become payable if certain performance conditions are satisfied over a period of five years.
Environmental Management Corporation, which had revenues of some $40 million in 2001, provides specialised operation, maintenance, and management services for water, wastewater, and public works facilities.
In addition, EMC offers its clients the capability of single-source design-build-operate services and turnkey residuals management.
Dick Grant, chief executive, BOC Process Gas Solutions, said: ‘Managing an industrial customer’s water cycle is a natural extension of our existing capabilities.’