Diversified manufacturer Tyco International Ltd. (NYSE: TYC) said it has acquired two Brazilian valve companies, seeking to broaden its product and service offerings in South America, according to Associated Press.
Tyco Flow Control said late Monday it acquired Hiter Industria e Comercio de Controle Termo-Hidraulico Ltda. It also took over an existing joint venture with Valvulas Crosby Industria e Comercio Ltda.
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Terms of the acquisitions were not disclosed, but the businesses had combined revenue of about $66 million in 2008, Tyco said.
U.S.-traded shares of Tyco International, which is incorporated in Schaffhausen, Switzerland, fell 25 cents to $36.01 in morning trading.
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