Steinhagen - "With Pentair backing us, we will accelerate our expansion abroad," explained Helmut Schweitzer, managing director of Jung Pumpen GmbH, at the works meeting held today in Steinhagen. At the meeting, the workforce was informed that ownership of the company will be transferred from 3i, the current owner, to Pentair, Inc. (NYSE: PNR), an American company, at the end of the year.
On August 1, 2004, 3i took over the company from the Masco Corporation, Taylor/Michigan. At the time, the Jung Pumpen management team was affirmed by 3i in that they were following the correct strategic goals and direction. This was confirmed even more strongly in the years following, according to Schweitzer. "In nearly every matter, we were in complete agreement with the advisory council set up by 3i. I think we have achieved our sales and growth targets in the last two years precisely because the necessary investment was authorised and we received support in everything we did," he said today.
Schweitzer went on to say that, due to the success it had achieved, Jung Pumpen had become a highly attractive company for potential buyers such as Pentair, which is a leader in the global pump market.
Competent in water technologies
Pentair, Inc. is headquartered in Minnesota, and is one of the world's leading water technology companies. "Pentair's Water Group is a global leader in providing innovative products and systems used worldwide in the movement, treatment, storage and enjoyment of water," Schweitzer informed his staff today. The Water Group includes leading pump brands including Nocchi and Hydromatic.
In fiscal year 2005, Pentair achieved total sales of approximately US$3 billion with a workforce of approximately 15,000 worldwide. The Water Group's sales accounted for approximately US$2 billion of the total.
Grow internationally - secure jobs nationally
"For our company and employees, integration into a global company committed to the water business ensures that we have found a long-term home. We will benefit from the market knowledge of our sister companies in many markets throughout Europe," Helmut Schweitzer went on to explain. He added that he is personally involved to help ensure the success of the integration into Pentair, as this would create the ideal conditions for securing the future of Jung Pumpen at the Steinhagen location. "We know from our activities in the last two years that we can expand very strongly abroad while continuing to serve well our customers in Germany. With Pentair, we leverage more effectively opportunities abroad, thereby securing jobs in Germany."
Successful for over 80 years
Following eight decades of company history, Jung Pumpen is one of the most successful companies in waste water technology in Germany, with approximately 335 employees. The company produces high-quality pumps and pump stations, both for residential, land drainage and large-scale industrial and municipal waste water treatment. Jung Pumpen has not only successfully established itself in the market as a systems provider in the fields of building services, waste water technology and pressure drainage, it has gone on to become a market leader in many areas.
No change to management and organisation
The future of Jung Pumpen within Pentair will continue to be shaped by the present organisation and the company's current management. "This was the express wish of Pentair," reported Helmut Schweitzer. "The present management team enjoys the unreserved support of the new owner and will continue to bear full responsibility for the development and success of the company." There are no immediate plans to make any changes to the company organisation or to merge functional areas with other subsidiaries.