Justice Department Prevails in Blocking United Dominion’s Petroleum Pump Joint Venture
United Dominion Industries Ltd. today expressed its disappointment at the decision of the United States Federal District Court in Wisconsin to block a proposed joint venture with Franklin Electric Company.
The joint venture would have manufactured submersible gasoline pumping systems and leak detectors and would have included United Dominion's Marley Pump business and Franklin's FE Petro unit.
"Naturally, we are extremely disappointed with the court's decision," said William R. Holland, chairman and chief executive officer. "However, we will continue to serve the petroleum industry with high-quality Red Jacket pumps and design solutions. Red Jacket has been a market leader since 1878 and will continue to be so. As previously announced, we do intend to proceed to sell Marley Pump's submersible water pump business."
Marley Pump produces submersible petroleum and water pumps and is a division of United Dominion Industries, a diversified manufacturer of proprietary engineered products in four business segments -- Flow Technology,
Machinery, Specialty Engineered Products, and Test Instrumentation. United Dominion has annual sales of approximately $2.5 billion and 14,000 employees in 20 countries. More information about the company is available through its
Source: SPX Corporation