ITT Completes Acquisition of Godwin Pumps, Creates a Leading Position in the Growing Market for Dewatering Pumps and Services
August 03 2010 - 12:16PM
Business Wire
ITT Corporation (NYSE: ITT), a global high-technology
engineering and manufacturing company and a leader in the transport
and treatment of water and wastewater, said today that it has
finalized the acquisition of Godwin Pumps, as first announced on
June 21, 2010. Godwin is a leading supplier of automatic
self-priming portable pumps used in the growing markets for
drainage pump rental, services and sales serving the global
industrial, construction, mining, municipal, oil and gas
segments.
“Combining the Godwin team with our own creates a leading
offering in dewatering pumps and services, and fits well with our
strategy to build on our strong global positions in water and
wastewater management,” said Gretchen McClain, president of ITT’s
Fluid and Motion Control group. “Adding the specialized products
and skills of the world-class Godwin team to our broad Flygt and
Grindex submersible pump portfolio and ITT global sales network
means our customers will have access to one of the broadest
dewatering capabilities on the market.”
Godwin Pumps employs approximately 850 employees located
throughout the United States and at its manufacturing facility in
Gloucestershire, England. It brings to ITT a U.S. rental fleet of
more than 6,000 pumps at 26 equipment rental facilities and a
network of approximately 50 distributors worldwide. Godwin’s 2009
revenues were approximately $200 million, with full-year 2010
revenue projected to be about $235 million. The business will
operate within ITT’s Water & Wastewater business.
About ITT’s Water & Wastewater business
ITT’s Water & Wastewater business is a global provider of
water handling and treatment solutions for municipal and industrial
customers in more than 140 countries. ITT designs and delivers
energy-efficient solutions and related services for water and
wastewater transport, biological treatment, filtration and
disinfection. The Water & Wastewater business includes the
Flygt, Wedeco, Sanitaire and Leopold product brands and is based in
Stockholm, Sweden. www.ittwww.com
About ITT Corporation
ITT Corporation is a high-technology engineering and
manufacturing company operating on all seven continents in three
vital markets: water and fluids management, global defense and
security, and motion and flow control. With a heritage of
innovation, ITT partners with its customers to deliver
extraordinary solutions that create more livable environments,
provide protection and safety and connect our world. Headquartered
in White Plains, N.Y., the company reported 2009 revenue of $10.9
billion. www.itt.com
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