ITT completed the acquisition of Rheinhütte Pumpen Group from Aliaxis.

ITT, which manufactures engineered components and customized technology solutions for industrial end-markets, completed the acquisition of Rheinhütte Pumpen Group, a designer and manufacturer in the market of centrifugal and axial flow pumps, from Aliaxis, which manufactures plastic plumbing products for the construction, industrial, and public utilities sectors. Financial terms were not disclosed. The strategic acquisition will expand ITT's highly designed industrial pump technology portfolio. “By joining a parent whose core business pumps, Rheinhütte Pumpen is now able to further accelerate its growth path and expand its global pump presence. We wish the entire Rheinhütte team and ITT great success while they pursue their new exciting future” Laurent Lenoir, Aliaxis CEO.