ITT to expand pump manufacturing and services in Latin America. Acquisition enables company to sharpen focus in growing oil and gas market.
ITT Corp., a provider of pump solutions for industrial, commercial, municipal and residential applications in more than 140 countries, recently announced the acquisition of Canberra Pumps do Brasil, expanding the company's pump manufacturing presence in the Latin America region. Canberra Pumps has an installed base of 20,000 pumps serving customers in the chemical, pulp and paper, and general industry pump markets. Financial terms of the transaction were not disclosed.
The acquisition builds on ITT's long business experience in Brazil, where its products are used to meet the needs of the growing industrial base, as well as the need for fresh water and for treating wastewater.
"Canberra, with its large installed base and strong reputation in the industrial process market, is a great complement to our existing footprint in Brazil, and will bolster our $3.4 billion global fluid technology portfolio," says Gretchen McClain, president of ITT Fluid and Motion Control. "This acquisition is another example of ITT's strategy to build upon our core businesses and use our strong financial position to expand in growing global economies like Brazil."
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