Textron acquires Maag's pump activities

Textron acquires Maag's pump activities

PUMP INDUSTFkY ISSUE 14 FEBRUARY 1997 ISSN 1359-6128 in Pfauter-Maag TEXTRON ACQUIRES MAAG’S PUMP ACTIVITIES Maag Holding AG has sold operations...

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PUMP

INDUSTFkY ISSUE 14 FEBRUARY

1997

ISSN 1359-6128

in Pfauter-Maag

TEXTRON ACQUIRES MAAG’S PUMP ACTIVITIES Maag Holding AG has sold

operations in Aircraft; Auto-

Maag Pump Systems AG

motive; Industrial; Systems

(MPS). Switzerland

and Components:

and

Maag Italia SpA, Italy to

nance. Commenting

deal, Herbert L Henkel,

MPS dcGgn5, manufactures

ITT FLUID

EXPANDS

and ICM/Krebsoge

(North

ITT Fluid Technology

America).

Flygt (Shenyang)

foreign enterprise, to

sion to focus on invest-

on the

systcnis IOr process appl~cn-

acquisition supported Tex-

Employing

tions 111tlic plastics. chem-

tron’s strategy of expanding

Textron Inc is a multi-in-

cal and pharlnaccutical

itq mechanical and fluid

dustry company with a his-

industries. Maag Italia manu-

power business on a global

tory of successfully

l‘ncturcs gear pumps, in addi-

basis. Henkel added that the

balancing a diverse range

tion to gcarh mainly loi

acquisition cumplements

of products, applications

Textron’s US-based power

and markets. The acquisi-

transmission

tion of Maag Pump Sys-

hvc

300 employees

SFr90 million. ing facilities Zurich

and

rcvenucs of Munutacturarc located in

and Milan,

tems particularly

facturing base, worldwide

complements

distribution

isting gear activities,

system and a

strong management

wli~le

team.

Terms of the transaction

sales and marketing suhsidi-

The move leads from I’IT Industries’ conversion

of

its 7.5 per cent stake in Shen-

56 000 people,

providing a European manu-

pumps in

China.

ment and real estate brings

operations by

and market

submersible

trial Products, said that the

conihincd

manufacture

Maag Holding AG’s deci-

a new player into the inter-

clpplica-

Pump Co

Ltd, a new wholly-owned

national pumping arena.

industry

Cor-

poration has formed ITT

president of Textron Indus-

railway

IN CHINA

of KrebsGge (Europe)

mzar pumps and and supplies =

mns. The two companies

TECHNOLOGY

lurgy activities consisting

and Fi-

US-hased Textron Inc.

Cutting

Tools, and its powder metal-

yang ITT Flygt Jinhei Pump Co Ltd, a joint venture formed in I995 hctween ITT Flygt, a division of ITT Fluid Technology, FAW-Jinbei

and

Auto Co Ltd,

a Chinese automobile

manu-

facturer. The new company is part of ITT Industries

Textron’s ex-

(China) Investment

Co Ltd,

recently formed to oversee

which include Cone Drive

ITT Industries’ business

Textron. Textron looks

activities in China (see

arics arc located in the USA,

were not disclosed.

committed to the develop-

Pump

Gcrmnny ;md Singapore.

In June 1996. Maag Holding

ment of its Industrial Prod-

December

announced that it planned to

ucts business which is

(Shenyang)

withdraw from managing in-

growing steadily e.g. eight

the capacity to produce up

dustrial operations to reposi-

fastener companies were

to I5 000 pumps per annum.

tion itself as an investment

acquired during the past

These will be used in a

company. Since then, Maag

18 months. The group’s

broad range of applications

has divcstcd Maag Gear Co

first foray into the pump

throughout China including

Ltd to FLS Industries of Den-

sector therefore may not

industrial waste, fresh water

mark. the 40 per cent interest

he its last. ??

and wastewater

cler Textron,

II 13 planned

that the two companies contlnuc

Uii-

will

to opcmtc 9s sistct

units. Textron

Inc. hcndquartered

in F’rovitlcnce.

Rhode Island.

is a US$c).i billion global. multi-industry

company with

CONTENTS

GENERAL

PANY WATCH ECONOMIC

NEW?

1,14,16

7-9 FEATU’RE~lO-11

REVIEW

44 QIAdY

MARKET

PUBLICATIONS

15

PROSPECTS 12 STOCK

2-4 COMPANY 12 PEOPLE

-

I !

ELSEVtEK

0 1997 Eljievier Science $td.; Englamd/97/!$~7.00 per item. ~ Nopart of 'thi7 publication magi be reproduced, stored in a retrieval system, or witted

ADVANCED

meats, elettronic.

TECHNOLOGY

crs. (Readcr~ m the USA - plcnsc see spedaI r,egulations listed on back cqver.9

mechanical; photocopying.

recording or otherwise, witiout!the

1nriu.m~~~ Attulyst, 1996). ITT Flygt Pump will have

PROFILE

systems.

5-6 COM-

13

I I I

I.

.by anyformor by any b&mpgfmission of the p@sh-

I