GOLDEN VALLEY, Minn., Sept. 8 /PRNewswire-FirstCall/ -- Pentair
(NYSE: PNR) today announced it has named Massimo Grassi, 42, to the position
of managing director of its Pentair Water Europe (PWE) business effective
October 1, 2003. Werner Brauer, who has served as managing director of PWE
since September 1999, has been named vice president of European Growth
Ventures for PWE.
"Our European water business is gaining momentum and we must reinforce the
top-level resources of our leadership team to take full advantage of that
energy," said Richard J. Cathcart, president and chief operating officer of
Pentair Water Technologies Group. "Massimo has a proven track record of
business development and market penetration, and brings extensive experience
in the European water industry to Pentair. His interest in helping build a
market-leading water business in Europe mesh perfectly with our strategic
goals for the PWE organization."
Grassi's background in the water industry includes 10 years of
progressively responsible positions with Austria-based BWT AG, the European
leader in water treatment technology. Since 2000, Grassi has served as chief
operating officer of BWT's Ecolife Technologies division and a member of its
board of directors. From 1999 to 2000, he held the position of corporate vice
president of the Standards Product Division. From 1994 to 1999, he was
managing director of BWT Belgium SA, and, in the year prior, served as
business development manager of BWT Wassertechnick GmbH.
Grassi served as general manager of water conditioning control valve
maker, SIATA S.p.A., from 1989 to 1992. (Pentair acquired the SIATA valve
business in 1996.) In addition, Grassi served as Pirelli's motorcycle tire
product manager from 1987 to 1988, and, in the prior two years, provided
technical sales support to the Italian copper laminate producer, MAS
Industriale. Grassi holds a Mechanical Engineering degree specializing in
fluid dynamics from the University of Florence.
"We owe considerable thanks to Werner Brauer for his leadership of the PWE
business," Cathcart added. "I am very pleased that Werner will continue to
contribute to the growth of our European interests, and participate in the
expansion of our business interests in Europe."
Pentair ( http://www.pentair.com ) is a Minnesota-based manufacturer whose
core businesses compete in tools, water technologies, and enclosures markets.
The company employs 12,000 people in more than 50 locations around the world.
Any statements made about the company's anticipated financial results are
forward-looking statements subject to risks and uncertainties such as
continued economic growth; foreign currency effects; retail and industrial
demand; product introductions; and pricing and other competitive pressures.
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.
Contact: Mark Cain (763) 656-5278
SOURCE Pentair