DALLAS (AP) — Flowserve Corp., which makes fluid and motion control products used in industry, said Tuesday it agreed to sell the rail business owned by its Australian unit Thompsons, Kelly & Lewis Pty Ltd. to Germany's Vossloh AG.
Terms were not disclosed.
Vossloh, which makes railroad infrastructure products, needs board approval to complete the transaction. The assets being sold generated about $11 million in revenue in 2006, Flowserve said. The company is retaining Thompsons' pump assets.