Published Nov. 15, 2012
ITT Corp.’s Control Technologies segment, located primarily in Ladson, has sold three of its product lines to a Cleveland business.
Kaliburn designs and manufactures shape cutting solutions; Burny produces shape cutting solutions; and CMC manufacturers web tension transducers and machine systems. The three brands employ 140 people and reported combined annual 2011 sales of $35 million.
The companies did not disclose the acquisition’s terms.
“Kaliburn and Burny are strong brands in the high precision shape cutting space,” said John Stropki, chairman and CEO of Lincoln Electric, in a statement. “Including their UltraSharp cutting technology and well-established, excellent quality products in our portfolio will further strengthen and expand our offerings to our global distributor partners and end-user customers.”
Munish Nanda, president of ITT’s Control Technologies business, said the acquisition is in line with the company’s efforts to focus its Control Technologies business on aerospace, energy absorption and precision motion control applications.
“We believe that their acquisition by Lincoln Electric will provide new opportunities for them, as well as greater value creation within Control Technologies,” Nanda said.