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## Industrial valve maker Flowserve Corp is to buy Ingersoll-Dresser Pumps from Ingersoll-Rand Co for US$775 million in cash to create what it described as the world's second-largest pump company. "From a service perspective, not only is Flowserve acquiring some of the best brands in the industry, but we will have access to one of the largest installed bases of process pumps in the flow-control industry," it said in a statement. It added that "expected synergies will result in the elimination of a number of overlapping facilities and other inefficiencies." Ingersoll-Rand said it would use the money from the sale to buy businesses within its markets, such as climate control. Flowserve also said it was suspending its quarterly cash dividend in order to reinvest in the growth of its operations.

Who reads Parker Elects New President?

Publisher

Elsevier Science; Elsevier ; Elsevier Ltd.; Elsevier BV (ISSN 1350-4789)

Published

2000

Language

EN

Field

Engineering (Physical Sciences)