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and two small non-core valve product lines located there to Weka AG, a specialized Swiss manufacturer of cryogenic components like valves, couplings, check valves for cryogenic processes and liquid level measuring instruments.
Under the terms of the agreement, Baretswil-based Weka assumed ownership of the plant effective 2 July 2007, with all 23 employees at the site transferred to Weka AG. As part of the sale, Flowserve will divest Battig and EPSY, two non-core product lines manufactured at the facility that represent a small portion of the Flowserve valve business.
Flowserve says the move will enable Flowserve to eliminate redundant production of several other retained valve products. It is designed to strengthen the company's ability to enhance operational excellence through more cost-effective consolidation of the manufacturing of the retained products. "This agreement reflects our ongoing commitment to continually reduce costs and strengthen our portfolio of products and services to enhance shareholder value," said Lewis Kling, Flowserve president and CEO. "Additionally, this sale will help the La Chaux-de-Fonds facility's ability to focus more strategically on its line of core offerings, which should be an ideal fit with Weka's line of cryogenic components.
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intends to take over the Dutch pump manufacturing company DP Industries B.V. based in Alphen a/d Rijn. The company has 280 employees and is planned to be turned into a KSB Group sheet metal competence centre. The Frankenthal-based Group aims to strengthen its positioning in the sheet steel and stain