Gilbarco Inc. Acquires Petroluem Dispensing Pump Division of Larsen & Toubro Limited

Purchase strengthens Gilbarco Veeder-Root’s India Offering

GREENSBORO, N.C. – November 17, 2009 - Gilbarco Inc. has signed a definitive purchase agreement to acquire the Petroleum Dispensing Pump (PDP) division of India Larsen & Toubro Limited (L&T), pending final closing conditions. Located in Mumbai, L&T is one of the leading industrial conglomerates in India. The PDP division manufactures, sells, integrates and services petroleum dispensers, LPG equipment, and automation systems solutions.

PDP’s significant installed base of sites spans both multi-national and regional oil companies, primarily in India. PDP enjoys strong brand recognition and valuable customer relationships.

“The acquisition of L&T’s PDP business unit, with their strong position in the India market, significantly enhances Gilbarco Veeder-Root’s position in one of the highest growth markets for our products and systems,” said Martin Gafinowitz, President, Gilbarco Veeder-Root. “The acquisition is a continuation of our successful strategy of building a thorough local presence in key markets; our customers benefit from the best technology, combined with an ability to meet local market requirements and provide excellent service and support. L&T’s talented team will contribute significantly in all of these areas.”

R N Mukhija, president (operations) and member of the L&T Board noted, “Gilbarco Veeder-Root’s brand, product breadth and global presence, combined with PDP’s excellent team, products and manufacturing capability, will be very valuable to the retail fuel customers in this market.”

PDP will become part of Gilbarco Veeder-Root’s organization, in a new division called Gilbarco Veeder-Root India Private Ltd. All business will be conducted under the Gilbarco name. Sudhanshu Chhabra will become managing director for all of Gilbarco’s India business. The division will continue to operate from their existing facilities in Mumbai and Coimbatore, India.

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About Gilbarco Veeder-Root
Gilbarco Veeder-Root is the leading global supplier of integrated fuel control, site management, and support services for petroleum marketers and commercial fueling enterprises. Products include dispensers, payment systems, tank gauges, submersible pumps, point of sale systems, and remote monitoring of site functionality. The Gilbarco Veeder-Root group of companies employs approximately 4,000 associates and is headquartered in Greensboro, N.C., with manufacturing and research and development centers around the world.
For additional information please contact:
Lucy Sackett
Director, Marketing Communications
Gilbarco Veeder-Root
Phone: (336) 547-5607
Email: lucy.sackett@gilbarco.com

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