Sunday, July 18, 2010

Flowserve Buying Italy-Based Valbart For $168M

From Flowserve Corp. said Friday it bought Valbart Srl, an Italian company that makes valves used in the oil and gas industry, for about $168 million cash.Flowserve, which makes pumps and fluid handling equipment, said it also repaid $32 million in debt held by Valbart.

The company said the deal will reduce its profit by a small amount in 2010 and add to its profits starting in 2011. Flowserve and Valbart began collaborating in December.

To read the full release please click on the link below:

Flowserve Buying Italy-Based Valbart For $168M

Berlin Technologies

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