Friday, June 15, 2007

Franklin Electric Expands in South Africa

Bluffton-based Franklin Electric Co., Inc.,is buying a pump manufacturing and distribution company in South Africa, acording to Inside INdiana Business.

The company has entered into an agreement with Howden Africa Holdings Limited to acquire Howden's 42 percent stake in Pump Brands Limited.

The deal must first be approved by the South African Competition Authority before Franklin Electric can purchase the rest of the company. Franklin Electric officials say the purchase will increase its presence in South Africa. Pump Brands does business as Denorco Engineered Pumping Solutions.

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