End Market Alignment Optimizes Company’s Organizational Structure to
BURLINGTON, Mass.--(BUSINESS WIRE)--Apr. 25, 2018--
CIRCOR International, Inc. (NYSE: CIR) today announced the availability
of certain historical segment information reflecting its previously
announced organizational realignment. On February 28, 2018, the Company
announced a realignment of its organizational structure from Energy,
Advanced Flow Solutions and Fluid Handling to the following reportable
business segments: Energy, Aerospace & Defense and Industrial.
The Energy segment includes all of the businesses from the
existing Energy segment and the Reliability Services business from the
recently acquired Fluid Handling business.
The Aerospace & Defense business includes the Aerospace &
Defense businesses previously included in the Advanced Flow Solutions
segment and the defense business from the recently acquired Fluid
The Industrial business includes the Pumps businesses
previously included in the Fluid Handling segment as well as the Power
& Process and Industrial Solutions businesses, previously included in
the Advanced Flow Solutions segment.
In addition, a number of smaller product lines were realigned as part of
this change to better manage and serve our customers.
CIRCOR will begin reporting the three new segments for the period
beginning January 1, 2018. All previously reported segment information
will be adjusted on a retrospective basis to reflect this change
beginning in the first quarter of 2018 reporting period.
To facilitate comparability, CIRCOR will provide this historical segment
information to reflect the three new reportable segments for each of the
prior quarterly reporting periods from the first quarter of 2016 through
the fourth quarter of 2017 in a Form 8-K to be furnished with the
Securities and Exchange Commission on April 25, 2018. In addition, the
Form 8-K includes combined information reflecting the Fluid Handling
acquisition as though it occurred on January 1, 2016. This information
can be accessed under the “SEC Filings” section in the “Investors”
portion of CIRCOR’s website.
About CIRCOR International, Inc.
CIRCOR International, Inc.
designs, manufactures and markets differentiated technology products and
sub-systems for markets including oil & gas, industrial, aerospace &
defense and commercial marine. CIRCOR has a diversified flow and motion
control product portfolio with recognized, market-leading brands that
fulfill its customers’ mission critical needs. The Company’s strategy is
to grow organically and through complementary acquisitions; simplify
CIRCOR’s operations; achieve world class operational excellence; and
attract and retain top talent. For more information, visit the Company’s
investor relations website at http://investors.circor.com.
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Source: CIRCOR International, Inc.
CIRCOR International, Inc.
Rajeev Bhalla, 781-270-1210
Vice President and Chief Financial Officer