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