Goulds Pumps Agrees to Buy Italian Producer
Associated Press
SENECA FALLS, N.Y. —
Goulds Pumps Inc. on Monday announced that it has signed a letter of intent to buy Lowara Pumps of Vicenza, Italy, through a stock transfer. Terms were not disclosed.
Lowara, with over $35 million in sales, manufactures a wide range of centrifugal pumps for consumer and light industrial applications and is strong in Europe and Third World countries, according to Goulds. Lowara’s sales have grown more than 15% a year, Goulds said.
Goulds had 1984 sales of $286 million and is concentrated in water systems for homes and in certain industrial markets, including chemicals, food and beverage, and pulp and paper.
