ITT Industries signed an agreement to purchase the business and assets of Precision Stainless Inc. of Springfield, Mo. Precision's main product offerings include custom-designed shop-fabricated vessels, field-fabricated tanks and related components, such as manways, tank heads and ferrules. These products are used in both the biopharmaceutical and food-beverage industries. Precision's vessel products complement ITT's Pure-Flo valves and process systems.

The company also announced a reorganization of its fluid technology operations. The new organization, which consists of five key groups, will enhance ITT's ability to serve customers in the water supply, wastewater, biopharmaceutical, process, industrial and building trade sectors in specific regions worldwide.

The new groups are:

  • Water Technology Group -- Includes ITT's Goulds' residential well-water system, agricultural and irrigation pumps; Lowara stainless-steel pump operations; and Vogel pumps for clear, contaminated or aggressive liquids.

  • Wastewater Group -- Market will be served by two separate organizations: Flygt's submersible technology and system solutions; and Sanitaire, formerly a part of Flygt, which makes aeration products.

  • Engineered Valve Division -- Will include three separate units: Pure-Flo Solution Group, providing hygienic process components and systems for pharmaceutical and bioprocessing; Richter Chemie-Technik, making corrosion-resistant pumps and valves; and a third unit offering valves and related components for industrial processes.

  • Industrial Pump Group -- Includes core brands such as Goulds, A-C, PumpSmart and PRO Services for the industrial, chemical processing, and pulp and paper segments.

  • Building Trades Group -- To be served by the Fluid Handling Division's familiar brands for HVAC applications: Bell & Gossett, McDonnell & Miller, Domestic Pump, and Hoffman Steam Specialties and Pumps.