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Pentair Completes Acquisition of Norit's Clean Process Technologies Business
05.12.2011
Now Part of Pentair's Filtration Solutions Business; Strengthens Global System and Solution Capabilities in Attractive Water and Beverage Segments

MINNEAPOLIS, May 12, 2011 /PRNewswire via COMTEX/ --

Pentair, Inc. (NYSE: PNR) today announced it completed the acquisition of the Clean Process Technologies (CPT) division of Norit Holding, B.V. As previously announced, the purchase price was euro 503 million.

Based in the Netherlands, CPT is a global leader in membrane solutions and clean process technologies in the high growth water and beverage filtration and separation market segments. CPT's product offerings include innovative ultrafiltration and nanofiltration membrane technologies, aseptic valves, CO2 recovery and control systems and specialty pumping equipment.

"CPT is a great fit for Pentair. The combination of CPT with Pentair's Filtration Solutions business creates a global leader in water and beverage filtration technologies, systems and solutions and strengthens our presence in fast growth regions, including China, Latin America and the Middle East," said Randall J. Hogan, Pentair chairman and chief executive officer.

About Pentair, Inc.

Pentair (www.pentair.com) is a global diversified industrial company headquartered in Minneapolis, 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 and thermal management markets, designing and manufacturing thermal management products and standard, modified, and custom enclosures that protect sensitive electronics and the people that use them. With 2010 revenues of $3.0 billion, Pentair employs over 14,000 people worldwide.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

Any statements made about the company's anticipated financial results or anticipated benefits of the CPT acquisition are forward-looking statements subject to risks and uncertainties such as the company's ability to integrate the CPT acquisition successfully; increased risks associated with operating foreign businesses; the magnitude, timing and scope of recovery from the global economic downturn; the strength of housing and related markets; the risk that expected benefits from our recent restructuring and other cost reduction plans may not be fully realized, or may take longer to realize than expected; foreign currency effects; material inflation outpacing our productivity and pricing actions; retail, commercial and industrial demand; product introductions; pricing and other competitive pressures; and the company's ability to achieve its long-term strategic operating goals, as well as other risk factors set forth in our SEC filings. 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.

Pentair Contact:
Media:Betsy Day, Manager - Corporate Communications
Tel.: (763) 267-2437 or (763) 656-5537
E-mail:betsy.day@pentair.com

Investors and Analysts:Sara Zawoyski, Vice President - Investor Relations
Tel.: (763) 656-5575
E-mail: sara.zawoyski@pentair.com

SOURCE Pentair, Inc.

Categories: Press Releases