The Gorman-Rupp Co has entered into a definitive settlement to acquire the property of Fill-Rite and Sotera, a division of Tuthill Corp, for US$525 million.
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Fill-Rite offers liquid transfer pumps as properly as a line of mechanical and digital meters, precision weights and measures, licensed meters, hand pumps, hoses, nozzles and equipment.
With services in Fort Wayne, Indiana and Lenexa, Kansas, USA, Fill-Rite has annual income of approximately US$140 million.
The Fill-Rite and Sotera manufacturers strategically increase Gorman-Rupp’s place in agriculture, construction and recreation markets.
“ เกจ์วัดแรงดันน้ำ are extremely excited to welcome Fill-Rite’s spectacular portfolio of mission-critical pumps and its excellent group of workers to the Gorman-Rupp household,” stated Scott King, president and CEO of Gorman-Rupp. “Altogether, with our mixed capabilities, we count on our revenues to achieve over US$500 million annually – a major milestone.”
“ ราคาpressuregauge learned about Gorman-Rupp when I was in highschool,” stated Jay Tuthill, chairman of Tuthill Corp. “That was the summer season of 1969 and I was being given a crash course on ‘Who’s Who in the Pump Business’. Now, more than half a century later, I am thrilled to see Tuthill’s Fill-Rite enterprise transferring into the Gorman-Rupp orbit.”
Gorman-Rupp says that Fill-Rite aligns with its disciplined acquisition criteria centered on pumps and pumping options.
“We are pleased to have discovered a companion that represents an excellent strategic fit for each companies, bringing together two pioneering circulate management businesses with over one hundred fifty years of mixed expertise operating as market-leaders,” stated Jeff Gorman, govt chairman of Gorman-Rupp’s board of directors. “This exceptional opportunity fits well into Gorman-Rupp’s overall strategic plan to find well-suited alternatives for expansion and innovation.”
Fill-Rite’s management group will continue to guide the business as a new division of Gorman-Rupp.
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