ITT Industries buys Waterlink's pure water division

03 June 2002 16:50  [Source: ICIS news]

HOUSTON (CNI)--ITT Industries said Monday it has acquired the pure water division assets of water purification chemicals firm Waterlink including the Wet, C'Treat and Wetec product lines for an undisclosed sum.

ITT declined to provide the value of the transaction but said in a statement that the lines being acquired represent combined annualised revenues of $16m (Euro17.2m).

The products complement ITT Industries Fluid Technology's pumps, mixers, aeration equipment and wastewater process systems and will provide significant growth opportunities for ITT Industries in the growing treatment market segment, the company said.

Said Robert Ayers, president of ITT Fluid Technology. "The pure water division products and its design capabilities will strengthen the value of the solutions we provide to our customers and accelerate our growth in our core segment."

Columbus, Ohio-based Waterlink said net proceeds from the sale would be used to reduce senior debt.

Headquartered in White Plains, New York, ITT Industries supplies advanced technology products and services. The company had sales of $4.7bn in 2001.

By: Mike Sheridan
+1 713 525 2653

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