Textron Acquires LCI's Fluid Systems Division
8 April 1999
Textron Acquires LCI's Fluid Systems Division Bolt-On Acquisition for Textron's Fluid & Power Systems Group
PROVIDENCE, R.I.--April 7, 1999--Textron Inc. announced today the acquisition of LCI Corporation International's Fluid Systems Division (FSD), a manufacturer and assembler of gear pumps, filtration systems and accessory equipment for the polymer, extrusion and industrial pump industry. LCI Corporation International is a subsidiary of Pneumafil Corporation, which is owned by Beacon Industrial Group LLC.Based in Charlotte, North Carolina, FSD will become part of Textron's Fluid Handling Products, a business unit of Textron's $1 billion Fluid & Power Systems Group. FSD's 1998 revenues were approximately $12 million. Within this business unit, FSD joins such market-leading operations as Swiss-based Maag Pump Systems Textron and UK- and US-based David Brown Union Pumps Textron.
"FSD's strong capabilities in the assembly of polymer pumps will enhance Textron's Fluid Handling Products operations," said Textron Fluid & Power Systems President Bob Geckle. "Its wide range of accessory equipment will also allow us to offer an expanded product line to our customers," he added.
Fluid Handling Products, part of Textron's $1 billion Fluid & Power Systems Group, is a leading manufacturer and designer of centrifugal, reciprocating and positive displacement pumps, pump systems and accessories for the oil, gas, petrochemical, plastics, polymer, chemical and pharmaceutical industries. Fluid Handling Products has over 900 employees at its manufacturing facilities in Switzerland, the United Kingdom and the United States, and sales and service facilities worldwide.
Textron Inc. is a $10 billion, global, multi-industry company with market-leading operations in Aircraft, Automotive, Industrial and Finance.