BWIP HOLDING INC. CHANGES NAME TO BW/IP INC.
LONG BEACH, Calif., Dec. 14 /PRNewswire/ -- BWIP Holding Inc. (NASDAQ-NMS: BWIP), the parent company of BW/IP International Inc., today announced that effective Jan. 1, 1994, the company will change its name to BW/IP Inc. The company's stock symbol "BWIP" will remain unchanged. Peter C. Valli, chairman and chief executive officer, said, "We feel the holding company concept that is implied by our name is not an accurate reflection of our strategy. Our energies are focused on building a world-class pumping company, which means growing our business in the markets for pumps, seals, valves, and related fluid control equipment and services. Holding companies frequently pursue strategies of owning or controlling a variety of diversified businesses under a single corporate umbrella, and we believe removing `Holding' from our name will eliminate any confusion in this regard." BW/IP International Inc. is a worldwide supplier of advanced- technology pump, seal, and fluid control equipment and services. The company's Pump and Seal segment produces highly engineered pumps and pumping equipment, precision mechanical seals, seal systems, and accessories. The Fluid Controls segment manufactures aerospace control systems for tactical missiles and aircraft. -0- 12/14/93 /CONTACT: Dan Peoples, 310-435-3700 or 619-552-1456/ (BWIP)
CO: BWIP Holding Inc.; BW/IP International Inc. ST: California IN: SU:
MF-LS -- SD001 -- 3486 12/14/93 08:45 EST
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|Date:||Dec 14, 1993|
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