ITT COMPLETES ACQUISITION OF BORNEMANN PUMPS
Strategic acquisition expands ITT’s portfolio of highly engineered pumps, systems and aftermarket capabilities for global oil
and gas and other attractive end markets
ITT Corporation (NYSE: ITT) announced today it has completed the acquisition of Joh. Heinr. Bornemann GmbH (Bornemann Pumps),
a leading global provider of highly engineered pumps and systems for the oil and gas industry, as well as the industrial,
food and pharmaceutical sectors. See more at http://www.bornemann.com
“Our acquisition of Bornemann Pumps and its leading edge technologies will further position ITT as a leader within the global
oil and gas industry,” said Denise Ramos, chief executive officer and president. “We look forward to unlocking powerful new
opportunities to serve customers through expanded global operational and service platforms.”
Robert J. Pagano Jr., president of ITT’s Industrial Process business, said, “The acquisition of Bornemann Pumps represents a
significant milestone in the continuing growth of our business. Their twin-screw technology and multiphase applications
expertise align strategically with the Industrial Process business, complement our Goulds Pumps brand and expand ITT’s
presence in global oil and gas markets. We are also excited by the advantages we will gain by bringing together two teams
with shared values and a commitment to quality, performance and customer satisfaction.”
The transaction was valued at €206 million. Additional information related to the acquisition is available on ITT’s website
at http://www.itt.com/IR
+ + +
About ITT
ITT (NYSE: ITT) is a diversified leading manufacturer of highly engineered critical components and customized technology
solutions for growing industrial end-markets in energy infrastructure, electronics, aerospace and transportation. Building on
its heritage of innovation, ITT partners with its customers to deliver enduring solutions to the key industries that underpin
our modern way of life. Founded in 1920, ITT is headquartered in White Plains, N.Y., with employees in more than 15 countries
and sales in more than 125 countries. The company generated 2011 revenues of approximately $2 billion.
Source: Kathleen Bark, Melissa Trombetta - http://www.itt.com
Nov. 28, 2012
|
PennEnergy
Weekly Video News
. Oil
& Gas Journal: Worldwide more than 100,000 paid subscriptions
Learn
more .
OGJ
Executive Briefs
.PennWell Petroleum Group:
OGJ - Oil & Gas Journal
OGJ_eNewsletter
Offshore Magazine
Offshore eNewsletter
Oil & Gas Financial Journal
Oil, Gas & Petrochem
OGJ Russia
OGJ LatinoAmericana
PennEnergy PennEnergy-eNewsletter
+ + +
For more information, media
kits or
sample copies please contact
wilhelms@pennwell.com
www.sicking.de
|