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Flowserve Corp., Dallas, TX, a provider of flow control products and services for the global infrastructure markets, has agreed to pay €298 million (US$373.2 million) for Dutch vacuum and fluid pump manufacturer SIHI Group BV.
SIHI Group, based in the Netherlands, and its subsidiaries provide engineered vacuum and fluid pumps, with associated aftermarket parts and services, primarily serving the chemical market, as well as the pharmaceutical, food and beverage and other process industries.
SIHI, which has operations across Europe, the Americas and Asia, expects FY2014 sales of €280 million (US$350.6 million).