Sale by Aliaxis Group of Rheinhuette Pumpen to ITT.

Aliaxis Group, a global leader in the manufacturing and distribution of advanced plastic piping systems, sold Rheinhuette Pumpen, a Germany-based designer and manufacturer of centrifugal and axial flow pumps, to ITT, an American worldwide manufacturing company based in White Plains, New York. Financial terms were not disclosed. The acquisition aligns with ITT’s focused growth initiatives in target markets and will enhance the Industrial Process (IP) segment’s strategy with a complementary portfolio of centrifugal pump technologies suited to corrosive, abrasive and high-temperature industrial process environments. The acquisition will bolster IP’s presence in Europe with an expanded product range as well as enhanced pump engineering, manufacturing, testing and channel to market capabilities.