Swiss conglomerate Georg Fischer has agreed to sell its Georg Fischer Rohrverbindungstechnik GmbH subsidiary to Illinois Tool Works Inc.
Georg Fischer claims it is selling the operation as part of its effort to refocus its resources on the corporation’s “core competences.” The sale is due to be completed January 1. No purchase price was announced, and the transaction is subject to confirmation by the German Cartel Office.
Georg Fischer Rohrverbindungstechnik GmbH employs about 50 workers at Singen, Germany. It is a part of GF Piping Systems, which produces orbital pipe and tube cutting machinery.
ITW, Glenview, IL is a diversified manufacturer of engineered components and industrial systems.