Delavan company part of merger
Pentair, an industrial company whose pump and filter division includes a plant in Delavan, will merge with the pipe and valve division of Tyco International, according to a news release from the company.
There will be no significant changes or job losses at the local branch of Pentair at 293 Wright St., Delavan, said Betsy Day, a spokeswoman for the company.
The Delavan plant has 652 employees and manufactures well water pumps, well water tanks, sump pumps and sewage pumps for residential use, Day said.
The merger will expand Pentair's business beyond pumps-and-filtration equipment to include, pipes, valves and control products.
The combined companies will use Pentair's name and keep Pentair's chairman and chief executive officer.
The merged company will have estimated 2012 revenues of $7.7 billion. The merger will give the company an increased global scale with greater access to developed and fast growth regions, according to the news release.
The deal still needs to be approved by both companies' shareholders.
Pentair employs more than 15,000 people worldwide.
Tyco provides security products and services, fire protection and detection products and services, and industrial valves and controls.
Tyco Flow designs and sells valves and controls for a variety of industries and designs and installs heat management and water transmission systems. The companies employ about 115,000 people worldwide.