Franklin Electric, ITT/Goulds settle litigation
Bluffton, IN—Franklin Electric Co. Inc. reports that it has settled a lawsuit filed recently against it by ITT Water Technology Inc.
Bluffton, IN— Franklin Electric Co. Inc. reports that it has settled a lawsuit filed recently against it by ITT Water Technology Inc. The litigation challenged Franklin's plan to distribute 4-in. submersible motor products directly to distributors in the U.S and Canada, and also challenged Franklin's announced price changes on its 4-in. motors. ITT Water is a division of ITT/Goulds.
The settlement calls for ITT to will buy from Franklin the majority of its 4-in. submersible electric motor requirements in the U.S. and Canada in the 1/3-hp through 2-hp size ratings through Dec. 31, 2006. Franklin has agreed to supply these products to ITT for this period. The settlement contains no limitation on sales of any other Franklin products to distributors, including assembled pump motor units sold through its recently acquired Franklin Pump Systems division. The pending litigation reportedly will be dismissed with prejudice in accordance with terms of the settlement. Other aspects of the settlement were not disclosed.
Franklin manufactures groundwater and fuel pumping systems, and adds that it’s a technical leader in submersible motors, drives, controls, and monitoring devices.
Control Engineering Daily News Desk
Jim Montague, news editor