ITT Industries Acquires PCI Membranes
ITT Industries, Inc. has acquired the assets of PCI Membranes from Thames Water. The PCI Membrane products complement ITT Industries Fluid Technologys pumps, mixers, aeration equipment and wastewater process systems, and will provide significant expansion opportunities for ITT Industries Sanitaire in the growing filtration and disinfection segments. Terms of the transaction were not disclosed.
"PCI Membranes is a perfect addition to our portfolio, and helps us in our objective of migrating ITT Industries, Sanitaire division from a provider of products to a provider of total systems solutions to the municipal and industrial treatment markets. PCI products and its design capabilities strengthen the value of the solutions we provide to our customers, and will accelerate our growth in our core market," said Robert Ayers, President of ITT Fluid Technologies.
PCI adds chlorination disinfection technology to the group through its Portacel division located in Winchester, England. In addition, PCIs membrane technology and expertise will be leveraged within Sanitaire to develop both MBR (Membrane Bio-Reactor) and secondary effluent filtration products.
PCI Membranes employs approximately 174 employees in the UK and has operations in Laverstoke, Swansea, Winchester. In the USA, the company has operations in Cincinnati, Ohio and Zelienople, Pennsylvania. Full-year revenues for 2002 are expected to be approximately $26 million.
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