SCHAFFHAUSEN, Switzerland, Dec. 14 /PRNewswire-FirstCall/ -- Tyco International Ltd. announced today that its Flow Control business has acquired two Brazilian valve companies in a move to expand its product and service offerings in Brazil and South America.
In connection with the transaction, Tyco Flow Control acquired Hiter Industria e Comercio de Controle Termo-Hidraulico Ltda (Hiter), a leading privately-held Brazilian valve manufacturer, and took full ownership of an existing joint venture that Tyco Flow Control had with Valvulas Crosby Industria e Comercio Ltda. The two businesses had combined revenues of approximately $66 million in 2008.
"These acquisitions represent an important step to further strengthen our Flow Control business in Brazil by providing our current and prospective customers with an expanded suite of products and services," said Patrick Decker, President of Tyco Flow Control. "By combining Hiter and Valvulas Crosby with our existing operations in Brazil, we will enhance our local manufacturing presence and service capabilities to meet our customer needs in Brazil, South America and locations where they do business around the world."
About Tyco International
Tyco International is a diversified, global company that provides vital products and services to customers in more than 60 countries. Tyco is a leading provider of security products and services, fire protection and detection products and services, valves and controls, and other industrial products. Tyco had 2009 revenue of more than $17 billion and has more than 100,000 employees worldwide. More information on Tyco can be found at http://www.tyco.com/
About Tyco Flow Control
Tyco Flow Control, a business unit of Tyco International Ltd. , is a leading global manufacturer and marketer of valves and controls, water and environmental systems, and thermal control solutions to vital industries including energy, power, water, mining, chemical, food & beverage, and construction. Tyco Flow Control has more than 15,000 employees in more than 300 locations globally. For more information on Tyco Flow Control, visit http://www.tycoflowcontrol.com/.
About Hiter Group
The Hiter Group began operations in 1965 in a small workshop in Sao Paulo focused on the needs of the sugar market. Gradually increasing its field of operation, the company has grown to serve a variety of industries, including the oil and gas, food and beverage, chemical, and petrochemical markets. Hiter now employs approximately 300 employees in the Sao Paolo area and invests in innovative technology to ensure the performance, quality and reliability of its products. For information on Hiter, visit http://www.hiter.com.br/.
Tyco International Ltd.
CONTACT: News Media, Paul Fitzhenry, +1-609-720-4261, or Investor
Relations, Ed Arditte, +1-609-720-4621, Antonella Franzen, +1-609-720-4665,
all of Tyco International Ltd.
Web Site: http://www.tyco.com/
