www.thedriller.com/articles/88139-franklin-electric-to-purchase-majority-interest-in-impo
Franklin Electric to Purchase Majority Interest in Impo
March 25, 2011
Franklin
Electric Co. has announced it has reached a definitive agreement to buy 80
percent of the outstanding shares of Ýmpo Motor Pompa Sanayi ve Ticaret A.S.
(Impo) of Izmir, Turkey. Impo, which has
approximately $25 million in annual sales, is a leader in the design,
manufacture and sale of ground water pumping systems in Turkey.
The transaction is subject to the customary approval of regulatory authorities in Turkey, and pending that approval, Franklin Electric expects the transaction to close in the second quarter of 2011.
The transaction is subject to the customary approval of regulatory authorities in Turkey, and pending that approval, Franklin Electric expects the transaction to close in the second quarter of 2011.
