ITT Corp. has signed a definitive agreement to acquire Laing GmbH of Germany, a privately held producer of energy-efficient circulator pumps.
Laing is headquartered in Remseck, Germany, with
operations in Germany, Hungary, the United States and Japan. The company
employs approximately 500 people worldwide, and generated 2008 global revenues
of $40 million. Upon completion of the acquisition, Laing will be fully
integrated into ITT’s Residential and Commercial Water business.
ITT to Acquire Laing GmbH
April 20, 2009