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IDEX AGREES TO PURCHASE ASSETS OF PULSAFEEDER SUBSIDIARY OF EAGLE INDUSTRIES

 IDEX AGREES TO PURCHASE ASSETS OF PULSAFEEDER SUBSIDIARY
 OF EAGLE INDUSTRIES
 NORTHBROOK, Ill., April 7 /PRNewswire/ -- IDEX Corp. (NYSE: IEX) today announced that it had entered into a preliminary agreement for IDEX to purchase the assets of the Pulsafeeder, Inc. subsidiary of Eagle Industries, Inc. Pulsafeeder, headquartered in Rochester, N.Y., is a manufacturer of specialty pumps, controls, and systems for the process industries and a variety of other markets, with annual sales of approximately $50 million. It has manufacturing operations in Rochester; Punta Gorda, Fla., and Muskogee, Okla.
 It is expected that the definitive agreement will be entered into within the next several days and that the transaction, which is subject to certain conditions, will close within the next three to four weeks. Eagle Industries will receive $66 million in cash and 75,000 shares of IDEX common stock for the Pulsafeeder business. IDEX said that Pulsafeeder would significantly strengthen the company's position in the fluid handling industry. In 1991, the Fluid Handling Group of IDEX accounted for approximately 60 percent of total sales of $228.2 million. The transaction is not expected to be dilutive but could add several cents in earnings per share in the first year of ownership.
 IDEX Corp. is a manufacturer of a wide array of proprietary, highly engineered products, including industrial pumps, stainless steel banding and clamping devices, sheet metal fabricating equipment and tooling, automatic lubrication systems, low horsepower compressors, and vibration control equipment. Its products are sold to a broad range of markets, the largest of which are the chemical processing, transportation equipment, food processing, pulp and paper, and oil refining industries.
 Additional information can be obtained on IDEX Corp., via fax, no cost -- Dial 1-800-PRO-INFO, code 087.
 -0- 4/7/92
 /CONTACT: Wayne P. Sayatovic, vice president-finance of IDEX, 708-498-7070; or Nick Farina or Audrey Lowe, 312-266-7800; or Scott Snyderman, 212-661-8030, or Lillian Armstrong, 415-986-1591, all of The Financial Relations Board, for IDEX/
 (IEX) CO: IDEX Corp.; Pulsafeeder Inc. ST: Illinois IN: SU: TNM


TS -- NY017 -- 5717 04/07/92 09:24 EDT
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Publication:PR Newswire
Date:Apr 7, 1992
Words:342
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