GREENSBORO, N.C. USA / MUMBAI, INDIA – March 11, 2010 – Gilbarco Inc. announced today that it has completed the previously announced acquisition of the Petroleum Dispensing Pump (PDP) business unit of Larsen & Toubro Limited (L&T). Located in Mumbai, India, L&T is a leading industrial conglomerate.
The PDP business unit manufactures, sells, integrates and services petroleum dispensers, LPG equipment, and automation systems solutions. L&T’s PDP business unit has a significant installed base of sites that spans both multi-national and regional oil companies, primarily in India. Gilbarco Inc. is wholly owned by Danaher Corporation (NYSE: DHR). The acquisition is a reaffirmation of Danaher's interest in India its commitment for long term growth. PDP will be joining fourteen other Danaher companies in India.
Statements in this document that are not strictly historical, including statements regarding the PDP business, Danaher and Gilbarco Veeder-Root’s growth in India and any other statements about managements’ future expectations, beliefs, goals, plans or prospects, may constitute forward looking statements. These are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements. These factors include, among other things: general economic conditions; Gilbarco Veeder-Root’s ability to successfully integrate the PDP business with its existing businesses; and the ability to realize anticipated growth. Additional information regarding factors that may cause actual results to differ materially from these forward-looking statements is available in Danaher’s SEC filings, including Danaher’s Annual Report on Form 10-K for the year ended December 31, 2009. These forward-looking statements speak only as of the date of this release and Danaher does not assume any obligation to update any forward-looking statement whether as a result of new information, future events and developments or otherwise.
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, NC, USA with manufacturing and research and development centers around the world. For more information visit www.gilbarco.com.
About Danaher Corporation
Danaher is a diversified technology leader that designs, manufactures, and markets innovative products and services to professional, medical, industrial, and commercial customers. Our portfolio of premier brands is among the most highly recognized in each of the markets we serve. Driven by a foundation provided by the Danaher Business System, our 47,000 associates serve customers in more than 125 countries and generated $11.2 billion of revenue in 2009. For more information please visit our website: www.danaher.com.
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Lucy Sackett, Director Outbound Marketing
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