WIESBADEN, Germany - ITT Inc has signed an agreement to acquire the Rheinhütte Pumpen Group from Belgium’s Aliaxis Group SA for approximately $91.5 million.

Headquartered in Wiesbaden, Germany, Rheinhütte designs and manufactures centrifugal and axial flow pumps for chemical, mining, renewable energy and refinery applications. Rheinhütte employs 430 people and anticipates full-year 2018 revenues of around $66 million.