Franklin
Electric Co. has announced it has reached a definitive agreement to buy 80
percent of the outstanding shares of Ýmpo Motor Pompa Sanayi ve Ticaret A.S.
(Impo) of Izmir, Turkey. Impo, which has
approximately $25 million in annual sales, is a leader in the design,
manufacture and sale of ground water pumping systems in Turkey.
The
transaction is subject to the customary approval of regulatory authorities in Turkey, and
pending that approval, Franklin
Electric expects the transaction to close in the second
quarter of 2011.