Curtiss-Wright Corp. has completed the previously announced acquisition of 100% of the shares of Phonix Holding GmbH for approximately EURO82 million ($108 million) in cash.
Phonix, headquartered in Germany, is a leading designer and manufacturer of high performance, severe-service valves, valve systems and related support services to the global chemical, petrochemical and power (both conventional and nuclear) markets. The business will operate within Curtiss-Wright's Flow Control segment.
The company operates Phonix Valves in Volkmarsen, Germany; Strack, located in Barleben, Germany; and Daume Control Valves, located in Hanover, Germany. Phonix has 282 employees, owns sales subsidiaries with warehouses in Texas and France and also has sales engineers operating in Benelux, Turkey, Portugal, Italy and Spain.
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