Sales for the Process Industries segment were USD 1.2 billion in 2011, an increase of 38% YoY from USD 903.4 million a year ago. Stronger distribution demand, acquisitions, growth in Asia, new product sales and pricing accounted for the increase. Excluding acquisitions, sales were up by 26%.

Process Industries generated USD 281.6 million or 22.6% of sales, in EBIT for the year, up by 111% YoY from EBIT of USD 133.6 million or 14.8% of sales. Higher volume, acquisitions, pricing and favorable mix due to higher aftermarket sales contributed to the increase.

Process Industries' fourth quarter sales grew to USD 322.4 million as compared with USD 250.7 million in the same period a year ago. The 29% increase reflects stronger demand from industrial distribution and acquisitions. Excluding acquisitions, fourth quarter sales were up by 9%.

Process Industries' fourth quarter EBIT was USD 67.1 million or 20.8% of sales, up by 51% from USD 44.4 million or 17.7% of sales, a year ago. Higher volume, acquisitions, favorable mix and manufacturing utilization contributed to the improvement.