US giant considers offloading Scottish company

ONE of Scotland’s oldest engineering companies could soon be sold by its American owners.

Howden, which has been trading for 164 years, is facing a ‘potential sale’ by Colfax.

The US-based group yesterday announced it is to buy medical equipment manufacturer DJO Global in a deal worth almost £2.5billion.

The company said it is now ‘evaluating’ the future of Howden in light of the acquisition.

Colfax said the Renfrew firm, which manufactures mine ventilation equipment, waste water treatment machinery and gas and air systems at plants across the world, is an ‘attractive asset’ to potential buyers.

The potential sale is unlikely to effect the 350-strong workforce at Howden’s Renfrew facility.

The firm, which originally manufactured boilers and engines, was established in Glasgow in 1854 but moved out of its site in the city’s Tradeston in 1988.

A Colfax spokesman said that the firm was ‘evaluating strategic options for Howden, including a potential sale of the business’.

They added: ‘Howden is a profitable business, well-positioned for future growth. We believe it is a very attractive asset to potential acquirers that could partner with the business and help take it to the next level.

‘The capabilities and experience of the extraordinary talent at Howden will undoubtedly be valuable to any potential acquirer. The Howden team’s priorities remain focused on serving customers and continuing to grow the business.’

Colfax bought Howden in 2012 as part of a £1.8billion deal for its then parent company Charter International.