Curtiss-WrightCurtiss-Wright Corporation has completed the previously announced acquisition of 100 percent of the shares of Phönix Holding GmbH for approximately EURO82 million ($108 million) in cash, according to an official company announcement.

Phönix, headquartered in Germany, is a leading designer and manufacturer of high performance, severe-service valves, valve systems and related support services to the global chemical, petrochemical and power (both conventional and nuclear) markets. The business will operate within Curtiss-Wright's Flow Control segment.

The company operates Phönix Valves in Volkmarsen, Germany; Strack, located in Barleben, Germany; and Daume Control Valves, located in
Hanover, Germany. Phönix has 282 employees, owns sales subsidiaries with warehouses in Texas and France, and also has sales engineers operating in Benelux, Turkey, Portugal, Italy and Spain.