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          <NonNumbericText>&lt;div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&lt;font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"&gt;Note 2: Acquisitions&lt;/font&gt;&lt;/div&gt;&lt;div style="TEXT-INDENT: 0pt; DISPLAY: block"&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&lt;font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"&gt;On February 5, 2010, the Company acquired 51% of Newco Valves, LLC (Newmans) for a total cash purchase price of $27.9 million, net of cash acquired.&amp;#160;The&amp;#160;acquisition strengthens the Company&amp;#8217;s presence in the downstream valve market, particularly in the gate, globe and check valve product lines.&lt;/font&gt;&lt;/div&gt;&lt;div style="TEXT-INDENT: 0pt; DISPLAY: block"&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&lt;font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"&gt;Under the terms of the acquisition, the Company has the right to purchase the remaining 49% interest in Newmans&amp;#160;on December 15, 2011, December 31, 2012 or December 31, 2013 and is required to purchase&amp;#160;such remaining interest&amp;#160;on January 31, 2015.&lt;/font&gt;&lt;/div&gt;&lt;div style="TEXT-INDENT: 0pt; DISPLAY: block"&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&lt;font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"&gt;The Company has included the financial results of Newmans in its consolidated financial statements in the Valves &amp;amp; Measurement (V&amp;amp;M) segment for the period subsequent to the acquisition date and has reflected a liability in its consolidated balance sheet for the fair value of the remaining 49% interest in Newmans it is required to purchase.&amp;#160;&amp;#160;The Company is still awaiting significant information relating to the value of Newmans' assets and liabilities in order to finalize its purchase price allocation.&lt;/font&gt;&lt;/div&gt;&lt;div style="TEXT-INDENT: 0pt; DISPLAY: block"&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&lt;font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"&gt;As discussed in more detail in the Company&amp;#8217;s Annual Report on Form 10-K for the year ended December 31, 2009, the Company acquired 100% of the outstanding stock of NATCO Group Inc. (NATCO) on November 18, 2009.&amp;#160;&amp;#160;The Company made a preliminary allocation of the purchase price at the time of acquisition based on preliminary valuations of the assets and liabilities acquired.&amp;#160;&amp;#160;The Company is still awaiting certain information to finalize its preliminary estimates and assumptions related to the fair value of inventory, property, plant and equipment, identifiable intangible assets, goodwill, certain pre-acquisition contingencies and related adjustments to deferred taxes.&lt;/font&gt;&lt;/div&gt;&lt;div style="TEXT-INDENT: 0pt; DISPLAY: block"&gt;&lt;br /&gt;&lt;/div&gt;</NonNumbericText>
          <NonNumericTextHeader>Note 2: AcquisitionsOn February 5, 2010, the Company acquired 51% of Newco Valves, LLC (Newmans) for a total cash purchase price of $27.9 million, net of cash</NonNumericTextHeader>
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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