New Name Reflects Strategy for Growth
GOLDEN VALLEY, Minn., March 2 /PRNewswire-FirstCall/ -- Pentair
(NYSE: PNR) today announced that it is renaming its Enclosures group as
Technical Products. Michael V. Schrock, president and chief operating
officer, retains leadership for Technical Products as well as responsibility
for the company's Filtration division in its Water Group.
This name change does not change the company's existing reporting
structure or brand positions. Technical Products will continue to serve the
electrical, electronic and thermal markets under its primary brands:
Hoffman(R), Pentair Electronic Packaging(TM), Schroff(R), Taunus(TM), Aspen
Motion Technologies, Birtcher, Electronic Solutions and McLean Thermal.
"Pentair's strategy for this business includes expansion into markets
adjacent to our previous base of electrical and electronic enclosures. The
recent acquisition of thermal management businesses animates this strategy,"
said Randall J. Hogan, Pentair chairman and chief executive officer.
"Technical Products, the new name, more accurately reflects the reality of our
business today by encompassing the increasingly broad range of products we
make for the electrical and electronic industries," he added.
The company announced the completion of the acquisition of McLean Thermal
Management, Aspen Motion Technologies and Electronic Solutions businesses on
December 1, 2005. These businesses provide thermal management solutions and
integration services to the telecommunications, data communications, medical
and security markets.
"We are excited by the opportunities we see to innovate and grow the
Technical Products business. We continue to look for additional opportunities
for growth," Hogan added.
About Pentair, Inc.
Pentair ( http://www.pentair.com ) is a diversified operating company
headquartered in Minnesota. Its Water Group is a global leader in providing
innovative products and systems used worldwide in the movement, treatment,
storage and enjoyment of water. Pentair's Technical Products Group is a leader
in the global enclosures market, designing and manufacturing standard,
modified, custom and thermal enclosures that house and protect sensitive
electronics and electrical components. With 2005 revenues of $2.95 billion,
Pentair has approximately 15,000 employees worldwide.
SOURCE Pentair
/CONTACT: Rachael Jarosh, Communications, +1-763-656-5280,
rachael.jarosh@pentair.com , or Mark Cain, Investor Relations,
+1-763-656-5278, mark.cain@pentair.com , both of Pentair/
/Web site: http://www.pentair.com /
(PNR)