Rotork buys Xylem oil & gas valves
19 Aug 2014
Xylem has sold its UK oil & gas valves business to Rotork for $30 million (£18 million).
The deal, confirmed in July, sees Rotork take control of the Wolverhampton-based Xylem Flow Control.
The business, part of Xylem’s Applied Water Systems (AWS) Growth Center, provides a wide range of pneumatic and hydraulic valves and related products to original equipment manufacturers, primarily in the oil and gas sector.
“This sale enables us to focus more sharply on our strategic core businesses and our strengths as a water technology focused company,” said Xylem chief executive Patrick Decker.
“At the same time, this business is a strong fit with Rotork’s portfolio and leading brands. I am confident that this business will benefit from its integration into Rotork’s portfolio and alignment with their long-term goals.”
For more than 60 years, the valves business has been a leading supplier to the oil and gas industry through a number of well-recognised, global brands – Midland-ACS, Alcon, and Landon Kingsway.
In 2013 Xylem Flow Control reported sales of £14.9 million.
