Xylem to sell United Kingdom-based oil & gas valves business to Rotork

RYE BROOK, N.Y.--(BUSINESS WIRE)--Jul. 2, 2014-- Xylem Inc. (NYSE:XYL), a leading global water technology company dedicated to solving the world’s most challenging water issues, announced today the divestiture of its Wolverhampton, United Kingdom-based valves business, Xylem Flow Control Limited, to Rotork plc, a leading actuator manufacturer and flow control company, for approximately U.S. $30 million (£18 million). [Previously reported U.S. $25 million.]

The business, part of Xylem’s Applied Water Systems (AWS) Growth Center, provides a wide range of pneumatic and hydraulic valves and related products to original equipment manufacturers, primarily in the oil and gas sector.

"This sale enables us to focus more sharply on our strategic core businesses and our strengths as a water technology focused company,” said Patrick Decker, president and CEO of Xylem. "At the same time, this business is a strong fit with Rotork’s portfolio and leading brands. I am confident that this business will benefit from its integration into Rotork’s portfolio and alignment with their long-term goals."

For more than 60 years, the valves business has been a leading supplier to the oil and gas industry through a number of well-recognized, global brands – Midland-ACS, Alcon, and Landon Kingsway. In 2013, the business reported sales of U.S. $25 million (£14.9 million).

About Xylem

Xylem (XYL) is a leading global water technology provider, enabling customers to transport, treat, test and efficiently use water in public utility, residential and commercial building services, industrial and agricultural settings. The company does business in more than 150 countries through a number of market-leading product brands, and its people bring broad applications expertise with a strong focus on finding local solutions to the world’s most challenging water and wastewater problems. Xylem is headquartered in Rye Brook, New York, with 2013 revenues of $3.8 billion and more than 12,500 employees worldwide. Xylem was named to the Dow Jones Sustainability World Index for the last two years for advancing sustainable business practices and solutions worldwide.

The name Xylem is derived from classical Greek and is the tissue that transports water in plants, highlighting the engineering efficiency of our water-centric business by linking it with the best water transportation of all -- that which occurs in nature. For more information, please visit us at www.xylem.com.

Source: Xylem Inc.

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