WEDECO employs 800 people and has seven facilities - two in Germany, and one each in the United States, France, Italy, Hungary and Korea. The company reported 2002 revenues of $144 million. It will become a part of the Sanitaire division of ITT's Fluid Technology group based in Charlotte, N.C.
ITT Industries Tenders Offer For German Water Treatment Firm
February 1, 2004
ITT Industries, through its subsidiary ITT Industries German Holding GmbH, launched a public offer for WEDECO Aktiengesellschaft Water Technology, a manufacturer of ozone oxidation and ultraviolet disinfection equipment based in Duesseldorf, Germany. ITT intends to offer to WEDECO's shareholders $20.68 (US) per WEDECO share in cash. The offer period was scheduled to expire Jan. 16.