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ITT to Purchase Godwin Pumps |
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Tuesday, 20 July 2010 15:05 |
ITT Corp has agreed to purchase privately held Godwin Pumps for $585 million. The transaction is expected to close in the third quarter of 2010, pending customary regulatory approvals. “This acquisition is another example of ITT’s strategy to expand our core businesses and build on our strong global positions in water, wastewater and industrial process,” said Gretchen McClain, president, ITT Fluid and Motion Control.
“Godwin’s business is a great complement to our existing fluid technology portfolio, and is expected to establish ITT among the leaders in the growing and profitable $3 billion global market for dewatering pumps and rental services.”
Godwin is best known for its service capabilities in dewatering and the original Dri-Prime pump, an automatic self-priming centrifugal pump range capable of handling mine dewatering needs.
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