SOLON, Ohio - Swagelok Company announced today it has acquired the assets of Innovative Pressure Technologies (IPT) as part of its strategy to broaden the company's offering of products and services for fluid system technology customers around the world.
Located in Erie, Penn., IPT is a manufacturer of quality high and medium pressure and sub-sea valves, fittings and fluid control devices used mostly in oil and gas, chemical/petrochemical, waterjet cutting, automotive, water blasting, and other demanding applications. Terms of the purchase were not disclosed.
"We are excited to welcome the IPT team to Swagelok," said Arthur F. Anton, president and chief executive officer, Swagelok Company. "These products will help meet customer demands for using higher pressures in their applications."
For years, IPT has been designing and manufacturing a range of ball, needle, check, relief, high-pressure, and subsea valve products. "The IPT acquisition allows us to offer a more robust valve portfolio," continued Anton.
Headquartered in Solon, Ohio, U.S.A., Swagelok Company is a major developer and provider of fluid system solutions, including products, assemblies, and services for the research, instrumentation, pharmaceutical, oil and gas, power, petrochemical, alternative fuels, and semiconductor industries. Its manufacturing, research, technical support, and distribution facilities support a global network of more than 200 authorized sales and service centers in 57 countries. For more information about Swagelok, visit the company's Web site at www.swagelok.com.
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