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Thursday, August 21, 2014

Pump Solutions Group Buys Italy’s Finder

PSG Dover logoPump Solutions Group (PSG) has acquired Italy’s Finder S.p.A. for $145 million.

PSG, a unit of Dover Corp., and based in Oakbrook Terrace, Ill., said Finder is a synergistic fit for the company. Finder manufactures centrifugal, plunger, and twin-screw pumps that meet American Petroleum Institute (API) standards that PSG covets.

Finder‘s API engineered pumps and systems are used in global oil and gas markets. The company has operations in Merate and Querceta, Italy, and Venissieux, France. Finder is also active in the nuclear, water desalination, chemical, pharmaceutical, and food markets.

PSG in May acquired Ebsray Pumps Pty. Ltd., an Australian manufacturer of positive displacement and regenerative turbine pumps, and absorbed it into its Blackmer operation. Ebsray makes sliding vane pumps and internal gear pumps for the chemical, industrial, petroleum, and military markets that complement PSG’s portfolio.

The latest move continues PSG’s string of strategic acquisitions to expand its presence in various vertical markets, including upstream, midstream, and downstream oil and gas markets. PSG oversees a large stable of global brands including Blackmer, Maag, and Griswold.

 

Valve Maker Cortec to Build New Plant 

The Advocate, a Baton Rouge, La., media outlet, reports that industrial valve maker Cortec CMS, will build and complete a $6 million manufacturing facility on a six-acre site in Port Allen, La., by the end of 2014.

The company, based in Houma, La., is reportedly moving its CMS (Cortec Manifold Systems) division from the Lafayette, La., office to Port Allen. The new facility, which will be about 35,000 sq ft, will employ approximately 140, according to the Advocate report.

Cortec has a plant in Lafayette making compact valves that was expanded last year but reportedly will be shuttered, according to the website of state agency Louisiana State Development. The location is currently the CMS’s headquarters. The company’s other main business unit, CFC (Cortec Fluid Control), is based in Houma.

 

 

 

 

 

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