Acquisition of Czech Seal Manufacturer
Flowserve announced the acquisition of HydroTechnik Olomouc, s.r.o., a privately held mechanical seal manufacturer based in Olomouc, Czech Republic. Terms of the deal were not disclosed.
Established in 1992, HydroTechnik Olomouc (HTO) offers an established line-up of mechanical seals and related products, focusing on Czech original equipment manufacturers, and power and process industry markets. In 2005, HTO generated $860,000 in revenue.
"This addition to Flowserve's portfolio of products and services offers tremendous potential for expansion of capacity in Eastern Europe," said Andy Beall, president, Flowserve Flow Solutions. "It is a positive step for Flowserve in helping increase our presence in the region, and supporting our key strategy of globalization."
The acquisition gives Flowserve a quick path forward in supporting customers and expanding business in the Czech Republic and throughout Eastern Europe. HTO provides an excellent facility with strong internal quality processes. The Olomouc facility immediately will be configured as a Flowserve Quick Response Center (QRC) to support regional customers.
HTO was formed out of the former SIGMA Pumps Research Institute when many of its top seal specialists decided to form an independent company. The successful focus of the company remains development, design and production mechanical seals for pumps and hydraulic equipment producers.
Source: Flowserve Corporation