IDEX Corporation Acquires Faure Herman SA.NORTHBROOK, Ill. -- IDEX IDEX International Development Exchange IDEX Imagery Data Exploitation System IDEX Imagery Digital Exploitation (system) IDEX Identifier of Explorer Corporation (NYSE NYSE See: New York Stock Exchange : IEX IEX Ion Exchange (chromatography) IEX Inter-Exchange Carrier ) today announced the acquisition of Faure Herman SA, a leading provider of ultrasonic and helical helical /hel·i·cal/ (hel´i-k'l) spiral (1). hel·i·cal adj. 1. Of or having the shape of a helix; spiral. 2. Having a shape approximating that of a helix. turbine flow meters used in the custody transfer In fluid measurement, a custody transfer point is a metering point at a location where the fluid is being measured for sale from one party to another -- hence the term 'custody transfer.'. and control of high-value fluids and gases. Headquartered in La Ferte Bernard, France, with sales offices in Europe and North America, Faure Herman has revenues of approximately $17 million euro ($22 million USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ). Faure Herman's products include the Heliflu Turbine meter and the FH8500 Ultrasonic Meter, both of which are the technology of choice in the oil, gas and refined fuels industries and are recognized by their customers for precision and accuracy. Faure Herman will be operated as part of the company's Liquid Controls business within its Fluid & Metering Technologies segment. Terms of the transaction were not disclosed. Commenting on the acquisition, IDEX Chairman and Chief Executive Officer Larry Kingsley said, "We are extremely pleased by Faure Herman's decision to become part of IDEX. Faure Herman is a technology leader in this exciting and growing market, and the highly precise nature of their products and strong regional brand recognition will add significantly to our precision metering capability." Liquid Controls President Kevin Hostetler added, "The acquisition of Faure Herman dovetails nicely with the new controls platform we acquired with Toptech Systems and will enable our continued growth in Europe. Most significantly, Faure Herman will enhance our ability to support our customers in their desire to move, measure, and dispense high-value fluids anywhere in the world." Faure Herman Managing Director Philippe Brel stated, "We are excited to become a part of IDEX and its Fluid and Metering Technologies business. IDEX is a recognized leader in applied engineered solutions and Liquid Controls is the premiere brand in the custody transfer and control markets. We will now have a global footprint and the technology which will enable us to provide our customers with a complete end-to-end solution ensuring the safe, productive and energy efficient transfer of all custody control fluids." About IDEX IDEX Corporation is an applied solutions company specializing in fluid and metering technologies, health and science technologies, dispensing equipment, and fire, safety and other diversified products built to its customers' exacting specifications. Its products are sold in niche markets to a wide range of industries throughout the world. IDEX shares are traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and Chicago Stock Exchange Chicago Stock Exchange (CHX) A major exchange trading only stocks, with 90% of trades taking place on an automated execution system, called MAX. under the symbol "IEX". For further information on IDEX Corporation and its business units, visit the company's Web site at www.idexcorp.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion