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 You are here: HOME > PRESSPressOur press service is exclusively done for editorial journalists, technical writers and all other colleagues of the press. Here you receive all kind of marketing information about the company, our products, innovations and other news. You will also have access to the Picture and Press Archive. If you have any questions, please contact us. ITT to acquire Laing GmbH, broadening portfolio of energy-efficient plumbing and HVAC pumpsWHITE PLAINS, N.Y. - April 16, 2009 - ITT Corporation (NYSE: ITT) announced it has signed a definitive agreement to acquire Laing GmbH of Germany, a privately held leading producer of energy-efficient circulator pumps primarily used in residential and commercial plumbing and heating, ventilating and air conditioning (HVAC) systems. Once completed, the acquisition will significantly broaden ITT's offering and will reflect the company's continued strategic focus on satisfying the market's growing demand for energy efficiency and lower life-cycle costs. "The addition of Laing's energy-efficient circulators to ITT's product portfolio significantly expands our offering to customers in the HVAC industry," said Gretchen McClain, president of ITT's Fluid and Motion Control business. "Upon completion of the acquisition, ITT will be able to offer customers a comprehensive range of high-performance and 'green' pump technology and products that meet more stringent energy standards." "The combination of Laing with ITT's building services business is a logical step in our evolution," said Oliver Laing, chief executive officer of Laing. "The strength of ITT's brands and their commitment to leading-edge technology means that we will have even more resources to develop new and innovative products for our customers, and expand our global reach." "Laing's energy-efficient A-class circulator pumps are an ideal match for our own HVAC products for the building services market, particularly with our Lowara and Flygt brands in Europe and Bell & Gossett in the Americas," said Ken Napolitano, president of ITT's Residential and Commercial Water business. European Union rules are expected to soon require the rating of circulators in an effort to save energy. A-class rated circulators, such as those that will be offered by ITT upon completion of the acquisition of Laing, provide another energy-efficient solution for residential buildings. Laing is headquartered in Remseck, Germany, with operations in Germany, Hungary, the United States and Japan. The company employs approximately 500 people worldwide and generated 2008 global revenues of €30 million ($40 million U.S.). Upon completion of the acquisition, Laing will be fully integrated into ITT's Residential and Commercial Water business. Financial terms of the transaction were not disclosed. The company expects to complete the transaction during the second quarter, pending regulatory approval and customary closing conditions. About ITT Residential and Commercial WaterITT Residential & Commercial Water is a leading, global manufacturer of water and wastewater pumps, valves, heat exchangers, controls, and package solutions for homes, buildings, agriculture, and irrigation. Headquartered in Morton Grove, Illinois, R&CW includes such leading product brands as Bell & Gossett®, McDonnell & Miller®, Goulds Pumps®, Lowara® and A-C Fire Pump®. About ITT CorporationITT Corporation is a high-technology engineering and manufacturing company operating on all seven continents in three vital markets: water and fluids management, global defense and security, and motion and flow control. With a heritage of innovation, ITT partners with its customers to deliver extraordinary solutions that create more livable environments, provide protection and safety and connect our world. Headquartered in White Plains, N.Y., the company generated 2008 sales of $11.7 billion. www.itt.com EDITORS NOTE: Lowara®, Flygt®, Bell & Gossett®, McDonnell & Miller®, Goulds Pumps® and A-C Fire Pump® are all registered trademarks of ITT Corporation. Press contact for this press release: Claudia Beggiato, Tel +39 0444 707111, E-Mail: claudia.beggiato@itt.com Laing’s D5solar pump scoops the H&V News Awards 2007The little DC pump Laing Ecocirc D5solar, powered by photovoltaic panels was multi awarded on the Heating and Ventilating News Awards 2007 with the “Domestic H&V Product of the Year”, the “Industrial/Commercial Heating Product of the Year” and was awarded silver as the “Renewable Product of the Year” London - The H&V News Awards 2007, UK’s leading event for the heating and ventilating industry for recognising and rewarding excellence under the show’s theme of “Sustainable Solutions for the Future” became a great success for Laing’s DC pump D5solar. The audience of over 1000 individuals from across the industry cheered enthusiastically for 18 winning companies, organisations and individuals, with Laing’s solar pump being the only product awarded twice in gold, and once in silver. Laing’s D5solar pump can be used wherever a highly efficient circulation pump is needed without a direct connection to AC power for domestic hot water or water glycol circulation. It can be connected directly to a photovoltaic panel. The product includes self-optimising software that modifies the pump’s operating point on the voltage-current curve of the photovoltaic panel to determine the point of maximum performance (MPP-Tracking). The pump has also been configured with back up power so that it will still work even when there is not much sunlight available, and also has Automatic Performance Optimisation for electronic commutation. These features enabled the pump to win the “Domestic H&V Product of the Year”. It is a “great idea and clever combination of technologies serving an obvious need”, according to this year’s judging panel. These features also won the award for the “Industrial/Commercial Heating Product of the Year”. The DC powered spherical motor pump has been short-listed in these two separate categories because it was regarded by the judges as an excellent innovation combining two renewable technologies to deliver the ultimate in low energy solutions. And as two winning awards seem not to be enough for that smart little pump, it was also silver awarded as the “Renewable Product of the Year”. “Since we entered the UK market some years ago, we offer our spherical motor pumps and central heating systems with enormous growing success. We are very happy and proud of being awarded three times in a contest competing with some of the biggest brand names in the industry”, says Robin Pomreinke, Laing’s UK Sales Manager. This year’s Heating and Ventilating 2007 was supported by some of the biggest names in the sector including Baxi Potterton, Daikin, Férroli, Flaktwoods, Lochinvar, MHS Boilers, Powrmatic, Systemair, Vaillant, Viessmann and Vokera. It was also fully supported by the industry's leading trade associations, CIBSE, FETA the HVCA and ICOM Energy Association. Company Address:Laing GmbH Systeme für Wärmetechnik • Klingelbrunnenweg 4 • 71686 Remseck Tel.: 07146 / 93 - 0 • Fax: 07146 / 93 - 33 • E-Mail: info@laing.de • Internet: www.laing.de Press contact: http://www.shk-agentur.de/ Download aktuelle Pressemitteilung
Press release archiveElder press releases still can be interesting today. In the press archive, just click on the thumbnail you are interested in, and download the whole press release and pictures.Press picture archiveThe Laing picture archive includes high resolution pictures of products and the spherical motor principle. Just click to download 300dpi graphics.Press mailing listWe appreciate that you are interested in news about our company. We will be glad to let you know any news about us. Be one of the first to know. Join the Laing press mailing list now. |
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