- Email: [email protected]
Name change for Duriron
Pump Industry Analyst
April 1997
IMO INDUSTRIES
ucts. Commenting on the de-
EXPLORES
velopment, Richard J Labrec-
STRATEGIC ALTERNATIVES
que,
president
and
chief
executive officer of ITT Fluid Technology Corp said 'With
Imo Industries Inc has announced that it has retained Credit Suisse First Boston to
this expansion, we are well
help the c o m p a n y evaluate strategic alternatives for en-
common market, which will
hancing shareholder value and reducing leverage.
tina's economy'.
Donald K Farrar, lmo chair-
positioned to take advantage of the promising Mercosur continue to help drive Argen-
1993 the
company began a restructuring program to improve the performance of lmo's operations and increase the company's financial flexibility by refinancing lmo's debt and reducing it to more manageable levels. Despite the company's inability to complete the sale of Roltra-Morse as planned, many of the initial objectives had been achieved, Farrar added. In order to maximize shareholder value, Farrar said that hno was engaging Credit Suisse First Boston to help explore a broad range of alternatives, including the possibility of a merger or sale of the company. No decision has been made to enter into any transaction. For fnrther information on hno Industries, see Company Profile, page 5. ITT FLUID TECHNOLOGY E X P A N D S IN ARGENTINA ITT Fluid Technology has acquired a 7II per cent stake
in its long-standing Argentinean manufacturing licensee and distributor, H u b e r m a n s a SA. With annual sales of nearly US$10 million, Hubermansa manufactures and services certain Flygt subincrsible products and markets other ITT fluid managentent prod-
IDEX Corp has completed the acquisition of Terry Harrison Holdings Ltd, the manufacturer of Blagdon air-operated diaphragm pumps based in Washington, Tyne & Wear, UK. Terry Harrison, the former owner of the business, is retiring but will remain as a con-
NAME
CHANGE
FOR
sultant to the business. Colin Gibson will remain as manag-
DURIRON
man and chief executive officer, said that in
IDEX BUYS BLAGDON
ing director of the business.
The Duriron Company Inc has legally changed its corporate name to Durco International Inc, following
The new acquisition, which
Elsevier Advanced Technology POBox 150 Kidlington Oxford OX5 IAS United Kingdom Tel: +44 (0)1865 843695 Fax: +44 (0)I 865 843971 E-mail: r.reidy@etsevier co uk Editor Roisin Reidy
has annual sales of approximately US$8 millio n, will operate as Blagdon Pump Ltd, a
Managing Editor Mark H Purvis
approval by its board of directors and shareholders.
The company's products will
No respon~¢ibititv is ta~sumed by
Commenting on the name
continue to be sold under the
change, William M Jordan,
Blagdon name and the busi-
the Publisher f o r any injury and/or damage to person,~' or
chairman and chief executive
ness will operate out of its ex-
officer of Durco International
isting facility. Terms of the
Unit of IDEX Corporation.
said that in the early stages of
transaction
the company's history, the
closed.
name Duriron was tied to the
Donald N
company's foundry business.
chairman and president said,
However, as the company has
'We are delighted to add the
were
not
dis-
Boyce, IDEX's
moved toward becoming a
respected Blagdon Pump op-
major supplier of specialized
eration to our business portfo-
process equipment, the origi-
lio. It naturally complements
nal company name did not
our existing Warren Rupp air-
fully characterize the com-
operated
pany or its products.
business and will function as a
Jordan added that the name Durco has been widely recognized as the trademark associated with the company's pump and quarter-turn valve lines and ttmt the addition of International to the company name was indicative of the fact that nearly hall of the company's revenues are generated from outside the United States. In addition to changing the company name, Durco International unveiled a new corporate logo. Durco International is the leading manufacturer of specialized process equipment
diaphragm
pump
part of that business unit'. Terry Harrison, the founder and former owner, said, T m pleased that our company has been purchased by IDEX, a company respected in
the
pump field worldwide. I'm also very pleased that our dedicated
employee
group
will continue to operate the business'. IDEX Corporation is a manufacturer of proprietary fluid handling and industrial products with leading positions in niche markets. Its engineered products are sold to a wide range of industries. IDEX
with
shares are traded on the New
headquarters in Dayton, Ohio,
York and Chicago Stock Ex-
USA.
changes,
and
related
services
ssr, =caor,~'~ 13gg£/28 "/.45 IsSuE SEQ 00023
16
Editorial Office:
00344885
property as a matter of products liability, negligence or otherwise, or fi'om an)' use or operation of any methods products, instructions or ideas contained in the material herein. Special regutaFiot~ for readers in the USA: This publicationhas
been registeredwith the Copyright Clearance Inc. Consent is given for copying of articles for personal or internal use. or for the personal use of specificclients. The consent is given on the condition that the copier pays the per-copy fee stated in the code Onthe front page for copyingbeyond that permited by Sections 107 and 108 of the US Copyright Law. The appropriatefee should be forwardedwith a copy of each page reproducedto the Copyright Clearance Center Inc. 222 Rosewood Drive. Danvers. MA 01923. USA. This consent does not extend to other kinds of copying, such as for general distribution. resale, advertising,and promotion purposes, or for creating new collectiveworks. Special writtenpermissionmust be obtained from the publisherfor such copying.
02167 Printed by Professional Book Supplies. Oxon. UK.
April 1997
IMO INDUSTRIES
ucts. Commenting on the de-
EXPLORES
velopment, Richard J Labrec-
STRATEGIC ALTERNATIVES
que,
president
and
chief
executive officer of ITT Fluid Technology Corp said 'With
Imo Industries Inc has announced that it has retained Credit Suisse First Boston to
this expansion, we are well
help the c o m p a n y evaluate strategic alternatives for en-
common market, which will
hancing shareholder value and reducing leverage.
tina's economy'.
Donald K Farrar, lmo chair-
positioned to take advantage of the promising Mercosur continue to help drive Argen-
1993 the
company began a restructuring program to improve the performance of lmo's operations and increase the company's financial flexibility by refinancing lmo's debt and reducing it to more manageable levels. Despite the company's inability to complete the sale of Roltra-Morse as planned, many of the initial objectives had been achieved, Farrar added. In order to maximize shareholder value, Farrar said that hno was engaging Credit Suisse First Boston to help explore a broad range of alternatives, including the possibility of a merger or sale of the company. No decision has been made to enter into any transaction. For fnrther information on hno Industries, see Company Profile, page 5. ITT FLUID TECHNOLOGY E X P A N D S IN ARGENTINA ITT Fluid Technology has acquired a 7II per cent stake
in its long-standing Argentinean manufacturing licensee and distributor, H u b e r m a n s a SA. With annual sales of nearly US$10 million, Hubermansa manufactures and services certain Flygt subincrsible products and markets other ITT fluid managentent prod-
IDEX Corp has completed the acquisition of Terry Harrison Holdings Ltd, the manufacturer of Blagdon air-operated diaphragm pumps based in Washington, Tyne & Wear, UK. Terry Harrison, the former owner of the business, is retiring but will remain as a con-
NAME
CHANGE
FOR
sultant to the business. Colin Gibson will remain as manag-
DURIRON
man and chief executive officer, said that in
IDEX BUYS BLAGDON
ing director of the business.
The Duriron Company Inc has legally changed its corporate name to Durco International Inc, following
The new acquisition, which
Elsevier Advanced Technology POBox 150 Kidlington Oxford OX5 IAS United Kingdom Tel: +44 (0)1865 843695 Fax: +44 (0)I 865 843971 E-mail: r.reidy@etsevier co uk Editor Roisin Reidy
has annual sales of approximately US$8 millio n, will operate as Blagdon Pump Ltd, a
Managing Editor Mark H Purvis
approval by its board of directors and shareholders.
The company's products will
No respon~¢ibititv is ta~sumed by
Commenting on the name
continue to be sold under the
change, William M Jordan,
Blagdon name and the busi-
the Publisher f o r any injury and/or damage to person,~' or
chairman and chief executive
ness will operate out of its ex-
officer of Durco International
isting facility. Terms of the
Unit of IDEX Corporation.
said that in the early stages of
transaction
the company's history, the
closed.
name Duriron was tied to the
Donald N
company's foundry business.
chairman and president said,
However, as the company has
'We are delighted to add the
were
not
dis-
Boyce, IDEX's
moved toward becoming a
respected Blagdon Pump op-
major supplier of specialized
eration to our business portfo-
process equipment, the origi-
lio. It naturally complements
nal company name did not
our existing Warren Rupp air-
fully characterize the com-
operated
pany or its products.
business and will function as a
Jordan added that the name Durco has been widely recognized as the trademark associated with the company's pump and quarter-turn valve lines and ttmt the addition of International to the company name was indicative of the fact that nearly hall of the company's revenues are generated from outside the United States. In addition to changing the company name, Durco International unveiled a new corporate logo. Durco International is the leading manufacturer of specialized process equipment
diaphragm
pump
part of that business unit'. Terry Harrison, the founder and former owner, said, T m pleased that our company has been purchased by IDEX, a company respected in
the
pump field worldwide. I'm also very pleased that our dedicated
employee
group
will continue to operate the business'. IDEX Corporation is a manufacturer of proprietary fluid handling and industrial products with leading positions in niche markets. Its engineered products are sold to a wide range of industries. IDEX
with
shares are traded on the New
headquarters in Dayton, Ohio,
York and Chicago Stock Ex-
USA.
changes,
and
related
services
ssr, =caor,~'~ 13gg£/28 "/.45 IsSuE SEQ 00023
16
Editorial Office:
00344885
property as a matter of products liability, negligence or otherwise, or fi'om an)' use or operation of any methods products, instructions or ideas contained in the material herein. Special regutaFiot~ for readers in the USA: This publicationhas
been registeredwith the Copyright Clearance Inc. Consent is given for copying of articles for personal or internal use. or for the personal use of specificclients. The consent is given on the condition that the copier pays the per-copy fee stated in the code Onthe front page for copyingbeyond that permited by Sections 107 and 108 of the US Copyright Law. The appropriatefee should be forwardedwith a copy of each page reproducedto the Copyright Clearance Center Inc. 222 Rosewood Drive. Danvers. MA 01923. USA. This consent does not extend to other kinds of copying, such as for general distribution. resale, advertising,and promotion purposes, or for creating new collectiveworks. Special writtenpermissionmust be obtained from the publisherfor such copying.
02167 Printed by Professional Book Supplies. Oxon. UK.