14 May 2009
JOHN CRANE, a division of global technology business Smiths Group, today announces completion of its purchase of Orion Corporation, a leading US-based designer and manufacturer of hydrodynamic bearings for energy and general industrial markets. This follows regulatory clearances of the acquisition, first announced on 26 March 2009.
Orion complements and extends John Crane Bearing Technology, formed after the acquisition of a German-based bearings firm in October 2007. It designs and makes hydrodynamic bearings for high-speed turbine, generator, compressor and gear drive applications for the oil and gas, power generation and general industrial markets.
Paul Cox, President of John Crane, said: “Integration of Orion will build critical mass in our hydrodynamic bearing business and will add a manufacturing, sales and service base in North America to supplement our existing operations in Europe. This purchase establishes John Crane as a global leader in the hydrodynamic bearings sector.”
ENDS
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