ITT CORPORATION ACQUIRES KALIBURN INC
April 4, 2008
ITT Corporation today announced that it has completed the acquisition of Kaliburn Inc. (“Kaliburn”), through its wholly-owned subsidiary CLEVELAND MOTION CONTROLS, INC. (“CMC”), headquartered in Cleveland Ohio. Kaliburn, located in Charleston South Carolina, is a market leader in the design and manufacture of plasma arc cutting equipment and consumables in metal fabrication. Financial terms of the transaction were not disclosed. Kaliburn will be strategically aligned within the ITT’s Motion and Flow Controls group.
“This acquisition broadens our product offering, leverages our leading-edge technology and allows our customers and distributors a wider array of integrated plasma cutting and numerical control system solutions,” said Wayne Foley, President of CMC....
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