BURLINGTON, Mass.--(BUSINESS WIRE)--CIRCOR International, Inc. (NYSE: CIR), a leading provider of severe service flow control solutions and other highly engineered products for markets including industrial, aerospace, defense, and energy, today announced it has completed the sale of its Instrumentation & Sampling business (“I&S”) to Crane Co. (NYSE: CR) for $172 million in cash, subject to a working capital adjustment.

“During the past 12 months, we have completed over $340 million of non-core asset sales, allowing us to significantly reduce debt,” stated Scott Buckhout, President & Chief Executive Officer of CIRCOR International. “These asset sales, coupled with our strategic shift away from upstream oil & gas, position CIRCOR for continued success and advance our strategy to simplify the Company, sharpen our focus on core mission-critical flow control platforms, and further reduce leverage.”

I&S historically generated approximately $80 million in annual revenue with operating income margins of approximately 19%. I&S manufactures valves, fittings, regulators, and sampling systems, primarily serving energy end markets.

About CIRCOR International, Inc.

CIRCOR International, Inc. designs, manufactures, and markets highly engineered products and sub-systems for markets including Industrial, Aerospace & Defense, and Energy. CIRCOR has a diversified product portfolio with recognized, market-leading brands that fulfill its customers’ unique application needs. For more information, visit the Company’s investor relations website at http://investors.circor.com, where we routinely post information that may be important to investors.