Acquisition

9 Months Ended

Sep. 30, 2011

Acquisition [Abstract]

Acquisition

Note 5 Acquisition

On January 26, 2011, the Company purchased Remag, AG (“Remag”) of Berne, Switzerland for $4.9 million. Remag distributes a line of precision flow measurement products, some of which they manufacture, for the global industrial market. Their small turbine meters complement and expand the Company’s existing line of specialty application products. The Company finalized its allocation of the purchase price as of September 30, 2011 which includes $0.9 million of cash, plus approximately $0.4 million of receivables, $0.4 million of inventory, $2.0 million of property, plant and equipment, $1.8 million of intangibles, and other assets and liabilities.

The acquisition was accounted for under the purchase method, and accordingly, the results of operations are included in the Company’s financial statements from the date of acquisition. The acquisition did not have a material impact on the Company’s consolidated financial statements or the notes thereto.