New Indian plant for Shakti Pumps

• Book ID: 104398530
• Publisher: Elsevier Science
• Year: 2006
• Tongue: English
• Weight: 45 KB
• Volume: 2006
• Category: Article
• ISSN: 1359-6128
• DOI: 10.1016/s1359-6128(06)71280-0

✦ Synopsis

ITT DIVESTS RICHTER CHEMIE-TECHNIK ITT Industries Inc has sold Richter Chemie-Technik GmbH to The Riverside Co, a private equity investor (see Pump Industry Analyst, January 2006). "This transaction is consistent with our valuebased strategy of focusing ITT's assets and attention on our core businesses, such as advanced water treatment, water and wastewater solutions, in order to provide greater potential for growth and profitability," said Hank Driesse, president of ITT Industries Fluid Technology. Richter manufactures and markets plastic-lined and metallic magnetic drive and mechanical seal pumps, valves and measuring and control equipment. The company, which was established in 1957 and has been an affiliate of ITT Industries since 1994, employs approximately 220 people and operates manufacturing sites in Germany and China.