Gorman-Rupp To Buy National Pump, Terms Not Given
MANSFIELD, Ohio (AP) â¿¿ Gorman-Rupp Co., a maker of industrial pumps, said Tuesday it plans to buy National Pump Co. following a due diligence review and a purchase agreement.
Financial terms were not disclosed.
National Pump, based in Glendale, Ariz., makes deep-well vertical turbine pumps for industrial water supply, agricultural irrigation supply and municipal water supply uses. It also provides specialty pumps for petroleum, mining and manufacturing uses.
National had 2009 revenue of about $33 million.Shares of Gorman-Rupp rose 5 cents to $25.38 in afternoon trading.
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