From Yahoo! Finance: Franklin Electric Co., Inc., the world's largest manufacturer of submersible electric motors and a leading supplier of water pumping and fuel pumping systems, announced that it has completed the acquisition of seventy-five percent of the outstanding shares of Vertical S.p.A. ("Vertical"), for cash.
Franklin Electric expects the transaction to be accretive to its earnings per share in 2009. Vertical, headquartered in Dueville (Vicenza - Italy), had 2008 net revenues of approximately 20 million Euros.
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Franklin Electric Announces the Acquisition of Vertical S.P.a., Vicenza, Italy