Hamilton Sundstrand to Acquire Haskel International
United Technologies’ Hamilton Sundstrand announced it has agreed to acquire Haskel International Inc., a manufacturer of pneumatically driven, high-pressure pumps and valves for industrial businesses. Financial terms were not disclosed. The transaction is subject to regulatory approvals.
“The acquisition of Haskel adds a leading, global player in high-pressure pumps and valves to Hamilton Sundstrand’s portfolio of specialty industrial pump businesses and will enhance our presence in the oil and gas industry, particularly in the Middle East,” said Ed Laprade, president of Hamilton Sundstrand Industrial enterprises. “Haskel also will add chemical injection technology that complements Milton Roy’s metering pump business.”
Haskel is headquartered in Burbank, California, and employs 325 people at facilities in the United States, Europe and Asia. The company will be operated as part of Milton Roy, a Hamilton Sundstrand business that is a leading manufacturer of metering and specialty pumps for a wide range of industrial applications. Milton Roy also has customer support facilities across the globe and more than half of its sales are to markets outside the United States. “We welcome the employees of Haskel to the Milton Roy family and look forward to building upon Haskel’s excellent reputation and performance,” said Milton Roy President Jean-Claude Pharamond.
Hamilton Sundstrand, headquartered in Windsor Locks, Connecticut, is a subsidiary of United Technologies (NYSE: UTX). It is a worldwide leader in the design, manufacture and service of industrial and aerospace systems and employs about 16,000 people.
This release includes forward looking statements that are subject to risks and uncertainties, including those related to the anticipated benefits of this transaction. Factors that could cause actual results to differ materially from those anticipated include difficulties in obtaining necessary regulatory approvals and economic and other conditions in the industries within which Haskel and Hamilton Sundstrand operate. For additional information identifying technological, competitive and other important factors that could cause actual results to differ materially from those anticipated in the forward looking statements, see UTC's SEC filings as updated from time to time.
Source: United Technologies Corporation