Family-controlled pump company is sold

Frank Mohn, a Norwegian company that makes submerged cargo pumps for tanker and offshore markets, will be acquired by Alfa Laval, a Swedish engineering group, for 13 billion Norwegian kroner ($2.2 billion),

the

Financial Times

reported.

Frank Mohn is controlled by the Mohn family and is debt free, the

FT

article said. In 2013, the company generated 3.4 billion kroner in sales and took additional orders for 6.1 billion kroner, according to the report. (Source:

Financial Times,

April 8, 2014.)