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LATEST NEWS - Acquisitions + Mergers

National Oilwell Acquires Maritime Hydraulics Canada

12.01.2001 -

HOUSTON–(BUSINESS WIRE)–Jan. 11, 2001–National-Oilwell, Inc. (NYSE:NOI) today announced that it has completed the previously announced acquisition of the stock of Maritime Hydraulics (Canada) Ltd. for a total cash purchase price, including the assumption of certain debt obligations, of Canadian $25 million (approximately U.S. $16.5 million).

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IDEX Corporation Completes Acquisition of Liquid Controls, L.L.C.

11.01.2001 -

NORTHBROOK, Ill., Jan. 10 /PRNewswire/ — Dennis K. Williams, chairman, president and chief executive officer of IDEX Corporation, and Fred G. Wacker III, president and principal shareholder of Liquid Controls, L.L.C., today announced the acquisition of Liquid Controls by IDEX. Liquid Controls is headquartered in Lake Bluff, Illinois, and has joint ventures in Italy and India. Liquid Controls becomes IDEX’s 12th stand-alone business and will be operated as part of its Pump Products Group. Terms of this cash transaction were not disclosed.

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Flowserve Divests Tulsa Plant to Ruhrpumpen Inc.

04.01.2001 -

DALLAS, Jan. 3 /PRNewswire/ — Flowserve Corp. announced today the

divestiture of its Tulsa, Okla., plant to Ruhrpumpen Inc., a subsidiary of

Corporacion EG of Monterrey, Mexico, on Dec. 29, 2000. The company made the

required divestiture as part of an agreement with the U.S. Department of

Justice following Flowserve’s acquisition of the Ingersoll-Dresser Pump Co.,

which the government approved in July 2000.

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Sulzer Sells Turbomachinery Business to MAN GHH BORSIG

02.01.2001 -

The MAN Turbomaschinen AG GHH BORSIG, a subsidiary of the commercial vehicle and mechanical engineering company MAN, in Oberhausen (DE), and Sulzer Ltd, Winterthur (CH), have signed an agreement for selling the complete business of Sulzer Turbo to MAN GHH BORSIG, subject to approval of the regulatory and antitrust authorities. The purchaser is acquiring the management, all employees and all sites of Sulzer Turbo.

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  • National Oilwell to Acquire Maritime Hydraulics Canada

    01.11.2000 -

    HOUSTON–(BUSINESS WIRE)–Oct. 30, 2000–National-Oilwell, Inc. (NYSE:NOI) today announced that it has signed, through a wholly-owned subsidiary, a Memorandum of Understanding with Aker Maritime ASA (OSE:AMA) to acquire the stock of Maritime Hydraulics (Canada) Ltd. for a total cash purchase price, including the assumption of certain debt obligations, of Canadian $25 million (approximately U.S. $16.5 million). The transaction is expected to close in January 2001.

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    Sulzer Medica not to merge with Sulzer

    27.10.2000 -

    The proposed merger between Sulzer Ltd and Sulzer Medica Ltd will not take place. The Boards of Directors and the Executive Management of both companies have acknowledged the critical assessment of this planned move by the financial markets. Sulzer Industries will continue the focus on Materials and Surface Technology. Sulzer Medica will further expand its core businesses of Orthopedics, Cardiovascular Prostheses and Dental Implants.

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    Divestiture of five Sulzer Industries business units – including pumps sector

    19.10.2000 -

    Sulzer makes drastic changes: Medical Devices and Surface and Materials Technology form the core of the new corporate strategy. These areas offer potential for high growth and profitability. As a consequence of the new strategic direction, new owners will be sought over the next several months for five business units (Infra, Pumps, Textil, Turbo and Burckhardt) with a total of over 14’600 employees. At the same time, Sulzer plans to make acquisitions of over CHF 2 billion within two years. Sulzer Medica Ltd will merge with Sulzer Ltd – this is subject to the approval of their shareholders. The strategic rea lignment will lead to a reduction of approximately 300 jobs in corporate services world-wide, half of which in Switzerland. Throughout this transition, Sulzer will honor its social obligations to its employees.

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