On December 18, 2000, Pentair announced it is discontinuing its Equipment businesses – Century/Lincoln and Lincoln Industrial – and is in the process of selling those businesses.
The expression “discontinued” is a technical accounting term that, in this case, refers to a business, which although still operating, is the subject of a formal plan for disposition, or sale. This allows Pentair report the financial results of its continuing businesses separately from the results of the discontinued businesses. It does not mean the Equipment businesses have been closed; in fact, they are viable, on-going businesses.
Both Century/Lincoln and Lincoln Industrial are meeting customers' needs for quality products and reliable customer service, and will continue to do so during any transition of ownership.
For further clarification of this topic, please contact the following:
Jim Hawk, Vice President of Sales, Lincoln Industrial (314) 679-4200
Peter Dessing, President, Century/Lincoln (952) 486-6636