ST. PAUL, Minn., Sept. 30 /PRNewswire-FirstCall/ --
Pentair, Inc. (NYSE: PNR) announced today that it has completed the
acquisition of water filtration products manufacturer, Plymouth Products,
Inc., of Sheboygan, Wisconsin, from USF Consumer & Commercial WaterGroup, a
unit of Vivendi Environnement (Euronext Paris: VIE) (NYSE: VE). Pentair,
which financed the acquisition through available lines of credit, expects the
acquisition to be accretive to its earnings in the first full year of
ownership.
Plymouth Products manufactures water filtration products used in
residential, commercial, and industrial applications. The products include
filter housings in a variety of sizes, replaceable cartridge elements
available in a variety of filtration media, and filtration systems to treat
drinking water for specific contaminants. The acquired business had net sales
in 2001 in excess of $80.0 million.
Pentair is a St. Paul-based manufacturer whose core businesses compete in
tools, water technologies, and enclosures markets. The company employs 11,500
people in more than 50 locations around the world.
Any statements made about the company's anticipated results are
forward-looking statements subject to risks and uncertainties, such as the
company's ability to integrate Plymouth Products and to realize expected
synergies from the Plymouth Products acquisition. Forward-looking statements
included herein are made as of the date hereof and the company undertakes no
obligation to update publicly such statements to reflect subsequent events or
circumstances. Actual results could differ materially from anticipated
results.
For more information, contact: Mark Cain of Pentair, Inc.,
+1-651-639-5278.
SOURCE Pentair, Inc.