ITT buys Irish pump rental business

ITT buys Irish pump rental business

IN BRIEF/NEWS In Brief • The Indian private equity company Subhkam Ventures has increased its stake in Shakti Pumps (India) Ltd to 12.05%. www.subhka...

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IN BRIEF/NEWS

In Brief • The Indian private equity company Subhkam Ventures has increased its stake in Shakti Pumps (India) Ltd to 12.05%. www.subhkam.com and www.shaktipumps.com • Colfax Corp has been added to the Russell 2000 Index. “We are very pleased to be a part of the Russell 2000 Index following our successful IPO in the second quarter of 2008,” said John Young, Colfax president and CEO (see Pump Industry Analyst, June 2008). “The addition of Colfax to the Russell 2000 will increase our visibility among investors, provide an opportunity to broaden our shareholder base and, ultimately, enhance our efforts to deliver outstanding value to our shareholders.” www.colfaxcorp.com and www.russell.com • Meanwhile Met-Pro Corp has been added to the broad-market Russell 3000 Index. www.met-pro.com • Cincinnati, Ohio-based pump distributor Pump Pro’s Inc has acquired Jenkins Equipment Co. Jenkins, also of Cincinnati, is Pump Pro’s second acquisition in the last five years. Pump Pro’s purchased Wagner-Smith Pumps and Systems in 2003. www.pumppros.com • ITT Corp has donated eight portable water purification units and replacement parts to areas of southwest China affected by the recent earthquake. The donated equipment, valued at US$290 000, will provide nearly 55 000 litres per hour of safe drinking water for quake victims living in the shelters, enough for more than 200 000 people. www.itt.com • SPX Corp has completed the sale of its Air Filtration business unit to The Riverside Co, a private equity firm. The terms of the sale were not disclosed. www.spx.com • More than 400 Godwin portable dieseldriven and electric submersible pumps worked to relieve floodwaters in the US Midwest recently. The pumps were sent from various Godwin branches to the Federal Emergency Management Association (FEMA) headquarters in Iowa, USA. www.godwinpumps.com 12

Pump Industry Analyst

Pentair, GE Water form residential water filtration JV

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entair Inc and GE Water & Process Technologies are combining their respective global water softener and residential water filtration businesses in a joint venture - Pentair Residential Filtration. Pentair has an 80% ownership stake in the new joint venture and GE has the remaining 20%. The combined businesses had 2007 net sales of approximately US$450 million. Pentair Residential Filtration will serve as the primary sales channel for Pentair’s and GE’s respective global residential water filtration and water softener businesses. It will also be the manufacturing arm for residential and commercial tanks, valves and some limited filtration products for the parent companies. Pentair and GE will continue to serve existing municipal, commercial and industrial water treatment customers separately, sourcing select products from the joint venture as needed. Pentair Residential Filtration will bring together approximately 1100 employees from Pentair and GE in 15 facilities in the US, Europe and China. “With the formation of this joint venture, Pentair and GE will be better positioned to serve residential customers with industryleading technical applications in the areas of water conditioning, whole house filtration, point of use water management and water sustainability,” said Randall Hogan, Pentair chairman and CEO. “Further, this joint venture advances Pentair’s current residential filtration strategy for growth. We believe we will accelerate revenue growth by selling GE’s existing residential conditioning and treatment products through Pentair’s sales channels, and by gaining access to some of GE’s current and emerging filtration technologies.” “We are excited about the growth opportunities this unique partnership brings our business,” said Jeff Garwood, president and CEO, GE Water & Process Technologies. “Partnerships such as this one create an excellent opportunity to develop and introduce new technologies that will meet the needs of both developed and emerging markets. It is also another example of how GE continues to partner with industry leaders to drive growth while meeting the world’s most pressing water needs.”

For further information, visit www.pentair.com and www.ge.com/water

Entegris expands in India

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ntegris Inc has opened a whollyowned subsidiary in Bangalore, India to support the region’s growing microelectronics and photovoltaic industries. Entegris Materials Integrity India Pvt Ltd will provide full support of Entegris’s complete product portfolio and service activities, including chemical pumps, liquid flow controllers and photoresist dispense pumps. “Entegris has served the Indian market since 2001 through distributor relationships,” said Jerome Couelle, vice president and general manger, Entegris Europe. “We are excited about the prospects of the new team led by Badarish Appanna, which brings considerable experience to the company. This expertise and the location in Bangalore, at the heart of India’s high-tech centre, will enable us to address growing opportunities in India’s rapidly emerging semiconductor and photovoltaic industries.” Entergris provides products and systems that purify, protect and transport critical materials used in manufacturing of semiconductors and other microelectronics.

For further information, visit www.entegris.com

ITT buys Irish pump rental business

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TT Water & Wastewater has acquired the Arrow Rentals company based in Ireland. Arrow Rentals is a pump rental company with locations in Lisburn (Belfast), Dublin and Cork. It is recognised as being one of the leading sales and rental companies in Ireland for the provision of diesel drainage pumps for the dewatering market. Staff from Arrow Rentals will join the ITT Water & Wastewater Ireland team – doubling the size of the workforce. The company will continue to operate from bases at Dublin, Cork and Lisburn (Belfast). “This achievement marks the start of our progress to become customers’ first choice as pump rental supplier throughout Ireland and further reinforces our position as the leading supplier of water and wastewater handling solutions in the region,” said Peter Lewington, managing director for ITT Water & Wastewater UK and Ireland. For further information, visit www.flygt.ie

July 2008