New Name Reflects Growth Strategy
Pentair is renaming its Enclosures group as Technical Products. Michael V. Schrock, president and chief operating officer, retains leadership for Technical Products as well as responsibility for the company's Filtration division in its Water Group.
This name change does not change the company's existing reporting structure or brand positions. Technical Products will continue to serve the electrical, electronic and thermal markets under its primary brands: Hoffman®, Pentair Electronic Packaging™, Schroff®, Taunus™, Aspen Motion Technologies, Birtcher, Electronic Solutions and McLean Thermal.
"Pentair's strategy for this business includes expansion into markets adjacent to our previous base of electrical and electronic enclosures. The recent acquisition of thermal management businesses animates this strategy," said Randall J. Hogan, Pentair chairman and chief executive officer. "Technical Products, the new name, more accurately reflects the reality of our business today by encompassing the increasingly broad range of products we make for the electrical and electronic industries," he added.
The company announced the completion of the acquisition of McLean Thermal Management, Aspen Motion Technologies and Electronic Solutions businesses on December 1, 2005. These businesses provide thermal management solutions and integration services to the telecommunications, data communications, medical and security markets.
"We are excited by the opportunities we see to innovate and grow the Technical Products business. We continue to look for additional opportunities for growth," Hogan added.
Pentair is a diversified operating company headquartered in Minnesota. Its Water Group is a global leader in providing innovative products and systems used worldwide in the movement, treatment, storage and enjoyment of water. Pentair's Technical Products Group is a leader in the global enclosures market, designing and manufacturing standard, modified, custom and thermal enclosures that house and protect sensitive electronics and electrical components. With 2005 revenues of $2.95 billion, Pentair has approximately 15,000 employees worldwide.
Source: Pentair plc.