Xylem(XYL) Prnewswire·2025-02-10 12:29Company Overview - Permascand, based in Sweden and owned by Altor, has merged with Magneto Special Anodes to create a global leader in catalytic coatings and electrodes for premium segment customers [1] - Magneto Special Anodes was previously a brand of Xylem Inc., with production facilities located in the Netherlands and China [1] Technological Leadership - Both companies possess technological leadership in electrochemical catalytic coatings and electrodes, serving complementary customer segments [2] - The ambition is to grow within existing segments and leverage technology expertise into new segments, particularly in green hydrogen, which is vital for the green transition of industry [2] Leadership Changes - David Ekberg has been appointed as CEO of the newly formed company, bringing experience from Stora Enso, Climeon, and Ericsson [3] - Ekberg expressed that the merger marks a new chapter for both companies and highlights the potential to address critical needs for the green transition [4] Strategic Vision - Under Ekberg's leadership, the company aims to embark on a growth journey, serving both existing and new customers with leading products and solutions [5] - Annica Bresky, Chair of the Board, emphasized Ekberg's entrepreneurial mindset and global experience in driving growth and innovation [5] Transaction Details - The transaction has been completed, and both entities will continue to operate under their existing names in the short term [6]