Pentair, a company dealing in water and other fluid solutions, valves and controls, equipment protection and thermal management products and which has a large Moorpark facility, has merged with Tyco's Flow Control to form Pentair Ltd.
The merger took place Friday and the newly formed company now has about 30,000 employees in more than 30 countries. The Moorpark facility, which manufactures pool products under the brand names Pentair and Sta-Rite, employees about 350 people.
Randall J. Hogan, chairman and chief executive officer of Pentair Ltd. called the company stronger and better positioned to benefit from what he believes will be an increased demand on energy, water and infrastructure in the future.
"We have significantly increased our global presence, and together have a broader offering and expanded capabilities for our customers," Hogan said.
Prior to the merger, Tyco had spun off Pentair. Shares of the new Pentair Ltd. trade on the New York Stock Exchange under the old Pentair Inc.'s trading symbol, PNR. The new company is also included in the S&P 500 Index.