Business

Editor: Crayon Zhang
27 Oct 2008 05:52:34 GMT

IDEX Corporation has announced the acquisition of Richter Chemie-Technik, a provider of premium quality lined pumps, valves and control equipment for the chemicals, fine chemicals and pharmaceuticals industries. Richter’s corrosion resistant fluoroplastic lined products offer solutions for the demanding applications in the process industry.

Headquartered in Kempen, Germany, with facilities in China and the US, Richter has annual revenues of approximately Euro 37 million. The company will be operated within IDEX’s fluid and metering technologies segment. With a cash consideration of approximately Euro 71 million, Richter is expected to be accretive to IDEX’s earnings in 2009.

Commenting on the acquisition, Larry Kingsley, IDEX chairman and chief executive officer, stated, ”We are extremely pleased with Richter’s decision to become part of IDEX. Richter is a recognised leader in the growing market for corrosion resistant, specialty pumps and valves.”

IDEX Corporation provides applied solutions specialising in fluid & metering technologies, health & science technologies, dispensing equipment, fire, safety and other diversified products built to its customers’ exacting specifications. Its products are sold in niche markets to a wide range of industries throughout the world. IDEX shares are traded on the New York Stock Exchange and Chicago Stock Exchange under the symbol ‘IEX’.