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SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2012
SUBSEQUENT EVENTS

NOTE 19

SUBSEQUENT EVENTS

On October 14, 2012, we executed an agreement to acquire all issued and outstanding stock of the privately held Joh. Heinr. Bornemann GmbH (Bornemann Pumps). Bornemann Pumps is a supplier and servicer of multiphase pumping systems serving the global oil and gas, industrial, food and pharmaceutical markets. Bornemann Pumps estimates 2012 revenue of approximately 115, employs more than 550 employees globally and is expected to be reported within the Industrial Process segment. The purchase price of approximately 200 will be reduced by debt expected to be assumed in the acquisition of approximately 30 and is expected to be funded with cash on hand. The acquisition is expected to close in the fourth quarter of 2012, pending customary regulatory approval.