ITT Corporation has completed its 206 million Euro acquisition of global pump systems provider Joh Heinr Bornemann GmbH (Bornemann Pumps). The company supplies its highly engineered products to the gas and oil industry and industrial, food and pharmaceutical sectors.
“Our acquisition of Bornemann Pumps and its leading edge technologies will further position ITT as a leader within the global oil and gas industry,” says ITT’s chief executive officer Denise Ramos. “We look forward to unlocking powerful new opportunities to serve customers through expanded global operational and service platforms.”
ITT’s president of industrial process business Robert J Pagano Jr says the acquisition represents a significant milestone in the company’s continuing growth. “Their twin-screw technology and multiphase applications expertise align strategically with the Industrial Process business, complement our Goulds Pumps brand and expand ITT's presence in global oil and gas markets. We are also excited by the advantages we will gain by bringing together two teams with shared values and a commitment to quality, performance and customer satisfaction.”
ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for growing industrial end-markets in energy infrastructure, electronics, aerospace and transportation.
ITT prides itself on partnering with its customers to deliver enduring solutions to these key industries. Founded in 1920, ITT is headquartered in White Plains, New York and employs staff in more than 15 countries. The company generated 2011 revenues of about $2 billion.