Curtiss-Wright buying Tapco International
Lyndhurst, N.J.—Curtiss-Wright Corp. announced Nov. 25 that it has agreed with Triten Corp. to purchase the assets of Triten's subsidiary, Tapco International Inc. (Houston, TX), for $10.5 million in cash and assumption of some operating liabilities.
Lyndhurst, N.J.— Curtiss-Wright Corp. me part of Curtiss-Wright's Flow Control division.
Tapco designs, engineers, and manufactures high-performance, metal-seated industrial gate valves, butterfly valves, flapper valves, actuators, and internal components used in high-temperature, highly abrasive and highly corrosive environments in the petrochemical refining industry. It also provides inspection, installation, repair and maintenance, and other field services for harsh-environment flow control systems. Tapco's products are used primarily in refineries' catalytic cracking units. Its sales for the fiscal year ending April 30, 2002, were $14.1 million.
Curtiss-Wright's 4,100 employees design, manufacture and overhaul products for motion control and flow control applications, as well as provide metal treatment services.
'Strategically, Tapco provides Curtiss-Wright an opportunity to extend its product portfolio and complement an existing product line that supports many of the same end-users. Tapco's severe-service sliding gate valve product line performs a similar function in refineries' fluid catalytic cracking units of refineries as our Delta Valve does in the coking process. Many refineries have both coke and catalytic cracking units. Both Tapco and our Delta Valve business unit share many of the same customers and marketing organizations.
'Tapco's severe-service, highly engineered product line allows us to offer a broader array of products and strengthen our presence in the oil and gas and petrochemical processing markets. The complementary product lines, design and engineering, marketing, and geographic location of Tapco make this a good addition for Curtiss-Wright. Its customer base provides an opportunity to expand sales of our other flow control valve products throughout North America and Europe.'
Control Engineering Daily News Desk
Jim Montague, news editor