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21 September, 2018

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Ingersoll sells pumps business for $775m
Published:  01 February, 2000

 Just two months after Ingersoll-Rand took full control of its former joint venture, Ingersoll-Dresser Pumps, it is selling the business to Flowserve for $775m. Flowserve says the deal makes it the world`s second-largest pumps supplier. IDP, which employs about 4,600 people worldwide, had sales worth $838m last year. Flowserve has a staff of around 7,000 and sales amounting to $1,060m in 1998. Flowserve has already said that 16 sites will be closed following the acquisition which is due to be completed in April.

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