Crane Co. Acquires W. T. Armatur GmbH & Co. for $38M

Crane Co. CR announced today that it has purchased all the equity interests in W. T. Armatur GmbH & Co. KG. WTA is primarily a manufacturer of bellows sealed globe valves, as well as certain types of specialty valves, for chemical, fertilizer and thermal oil applications. The purchase price was approximately $38 million on a cash and debt free basis. Located in Maxdorf, Germany, WTA employs 95 people. WTA's 2010 sales of approximately $21 million were primarily to customers in Germany and surrounding countries.