IDEX Corporation Acquires Faure Herman SA
NORTHBROOK, Ill.--(BUSINESS WIRE)--Feb. 14, 2007--IDEX Corporation
(NYSE: IEX) today announced the acquisition of Faure Herman SA, a leading
provider of ultrasonic and helical turbine flow meters used in the custody
transfer and control of high-value fluids and gases. Headquartered in La Ferte
Bernard, France, with sales offices in Europe and North America, Faure Herman
has revenues of approximately $17 million euro ($22 million USD). Faure Herman's
products include the Heliflu Turbine meter and the FH8500 Ultrasonic Meter, both
of which are the technology of choice in the oil, gas and refined fuels
industries and are recognized by their customers for precision and accuracy.
Faure Herman will be operated as part of the company's Liquid Controls
business within its Fluid & Metering Technologies segment. Terms of the
transaction were not disclosed.
Commenting on the acquisition, IDEX Chairman and Chief Executive Officer
Larry Kingsley said, "We are extremely pleased by Faure Herman's decision to
become part of IDEX. Faure Herman is a technology leader in this exciting and
growing market, and the highly precise nature of their products and strong
regional brand recognition will add significantly to our precision metering
capability." Liquid Controls President Kevin Hostetler added, "The acquisition
of Faure Herman dovetails nicely with the new controls platform we acquired with
Toptech Systems and will enable our continued growth in Europe. Most
significantly, Faure Herman will enhance our ability to support our customers in
their desire to move, measure, and dispense high-value fluids anywhere in the
world."
Faure Herman Managing Director Philippe Brel stated, "We are excited to become a
part of IDEX and its Fluid and Metering Technologies business. IDEX is a
recognized leader in applied engineered solutions and Liquid Controls is the
premiere brand in the custody transfer and control markets. We will now have a
global footprint and the technology which will enable us to provide our
customers with a complete end-to-end solution ensuring the safe, productive and
energy efficient transfer of all custody control fluids."
IDEX Corporation’s Liquid Controls and QT
Technologies Deliver Real-Time Functionality
February 26, 2007 – Dallas, TX and Lake Bluff, IL – Liquid Controls,
an industry leader in flow measurement and process control instrumentation for 50
years, and QT Technologies, an innovator of real-time data productivity
solutions for the mobile resources industry announced today the availability of
expanded functionality in the LectroCount® DMS Data Management System.
LectroCount DMS is Liquid Controls’ in-cab data management system for use with
LectroCount LCR® and LCR-II® Electronic Registers.
Each DMS unit has the option to include Liquid Control’s in-cab graphical
control system functionality powered by QT Technologies’ Productivity Engine™.
Liquid Control’s in-cab graphical control system includes full time connectivity
with the QT Data Center via satellite, cellular or wireless WAN, allowing
real-time updates to the DMS on-board database, real-time GPS-based mobile asset
tracking, integrated GPS-based mapping, as well as secure reduced cost payments.
With the integration of the QT features, clients will have the ability to
receive even more custom tailored solutions from an extended list of
configuration options. Based upon the client’s requirements, they can choose a
solution that includes the DMS and/or QT’s Productivity Engine functionality.
By complying with the regulatory requirements and security protocols of the
multiple processors for electronic payments, transaction costs and incidents of
fraud are substantially reduced. The QT Productivity Engine and Data Center are
fully compliant with all federal banking, credit card, debit card and electronic
check association network rules and regulations. An upgraded DMS uses the
always-on connectivity of QT’s Mobile POS to perform real-time payment
validation with the processors and use the fraud detection methodologies built
into the Productivity Engine. Validated credit card, debit card and
ACH/electronic check payments are less expensive and accelerate cash flow.
“Integration of the real-time information and security features of QT’s
Productivity Engine with the proven LectroCount DMS has refined the utility of
our highly robust, in-cab liquid control system,” said Ken Hessevick, Global
Vice President, Marketing of Liquid Controls. “We anticipate that this
enhancement will meet our clients’ needs for improved fleet and cash
management.”
“LC leads the industry with innovations, a great fit with our goal to deliver
best-in class new functionality to the petroleum industry,” said Jerry Portocalis,
President of QT Technologies. “We look forward to a long, beneficial
relationship that will bring substantial advantages to their customers.” About
QT Technologies Founded in 1984, QT Technologies innovates across the petroleum
industry, providing real-time data solutions to increase resource productivity
with flexible workflow controls, transaction management and back office
integration. The company serves more than 1000 point-of-sale installations
throughout North America, available to hundreds of thousands consumers each day. Aviation, marine, transportation and commercial/home field service markets all
benefit from QT’s custody transfer applications, which are integrated with
real-time management of field services, from bulk product tracking to dispensing
devices and back office processes. For more information, call 1.866.788.3241 or
visit www.QTTechnologies.com.
IDEX Corporation Acquires Toptech Systems, Inc.
Dec. 4, 2006--IDEX Corporation (NYSE: IEX) today announced the
acquisition of Toptech Systems, Inc., a leading provider of terminal
automation systems used in the custody transfer and control of high value fluids
and gases. Based in Longwood, Florida, with revenues of approximately $22
million, Toptech's products include terminal automation hardware and software
used by customers in the oil, gas and refined fuels markets to control and
manage inventories, as well as transactional data and invoicing. Toptech will be
operated as part of the company's Liquid Controls business within its
Fluid & Metering Technologies segment. Terms of the transaction were not
disclosed.
Commenting on the acquisition, IDEX Chairman and Chief Executive Officer
Larry Kingsley said, "We are extremely pleased by Toptech's decision to become
part of IDEX. Toptech's expertise in terminal automation and management is
highly complementary to our precision metering capability and growth within the
oil, gas and alternative fuels markets. With the addition of Toptech, IDEX will
now offer a robust platform of controls complementing our market-leading
products which enable our customers to move, measure, and dispense high value
fluids anywhere in the world."
Toptech founders, Doug Dunlap and Jay Barnhill, stated, "We are excited to
become a part of IDEX and its Fluid and Metering Technologies business. IDEX is
a recognized leader in applied engineered solutions whose global footprint will
greatly enhance our ability to serve the needs of our customers. Together, we
will offer a complete end-to-end terminal management solution ensuring the safe,
productive and energy efficient transfer of all custody control fluids, as well
as the integrity of our customers' data management processes." |
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