Precision Castparts buys U.K., Swiss valve makers
Valtaco is a Zurich manufacturer of quarter-turn, three-piece ball valves used in the pharmaceutical, biotechnology and chemical industries. Reiss, located in Peterborough, England, produces knife gate valves and holds about 30% of the British market for such valves.
PCC Flow Technologies, a subsidiary of Precision Castparts, plans to expand Reiss' penetration of the U.K. market. It also will introduce the line to the European and U.S. markets.
The Valtaco and Reiss valves will complement PCC Flow Technologies' growing line of quarter-turn valves, stated William C. McCormick, PCC's chairman and CEO.
"Valtaco is a small acquisition from which we expect a large contribution to PCC Flow Technologies' continued successful growth," he said. "The acquisition of Reiss continues our long-term strategy of making PCC Flow Technologies a single source for meeting certain niche requirements for a wide spectrum of customers worldwide."