Acquisition of Bornemann Pumps Completed
Dec 01 2012 Read 1180 Times
ITT Corporation (Germany) announced recently they have completed the acquisition of Joh. Heinr. Bornemann GmbH (Bornemann Pumps), a global provider of highly engineered pumps and systems for the oil and gas industry, as well as the industrial, food and pharmaceutical sectors.
"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 EUR 206 million. Additional information related to the acquisition is available on ITT's website at www.itt.com\IR.
Do you like or dislike what you have read? Why not post a comment to tell others / the manufacturer and our Editor what you think. To leave comments please complete the form below. Providing the content is approved, your comment will be on screen in less than 24 hours. Leaving comments on product information and articles can assist with future editorial and article content. Post questions, thoughts or simply whether you like the content.
Nov 13 2019 Baku, Azerbaijan
Dec 03 2019 Tel Aviv, Israel
Dec 10 2019 Nuremberg, Germany
Jan 11 2020 Abu Dhabi, UAE
Jan 29 2020 Rennes, France