Maag Pump Systems Textron is doubling its North Carolina employment with the acquisition of LCI Corp. International's fluid systems division.
``LCI has developed a business that goes well with gear pumps,'' Frank Brinken, president of Zurich, Switzerland-based Maag Pump Systems Textron, said in a telephone interview. ``We will take their product internationally.''
So far, LCI has marketed the equipment in North America.
Brinken, who oversees worldwide operations, said the Textron Inc. division has sales of more than $50 million. The deal was announced April 7. No terms were disclosed.
Maag plans to hire 25 of 37 employees at the LCI division in Charlotte, N.C., and relocate them and the pump-accessory business to nearby Matthews, N.C., where Maag employs 25 and occupies more than 14,000 square feet. The site is big enough to house both operations, Brinken said.
The LCI division had 1998 sales of about $12 million from manufacturing and assembling gear pumps, filtration systems and accessory equipment for polymer, extrusion and industrial applications. Twelve employees will remain with LCI parent company Pneumafil Corp. in Charlotte. Beacon Industrial Group LLC owns Pneumafil.
With the additional business, Maag now considers the United States to be its most important market, Brinken said.
Textron acquired Maag in 1997, which reports through the fluid-handling part of Textron's $1 billion fluid and power systems group. The business traces its roots to Max Maag's first studies on gear technology in 1908.