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In October 2020, Fortive completed the corporate spin-off of 80% of Vontier. [3] Fortive disposed of its remaining 20% ownership interest in January 2021. [ 4 ]
Their products and services are split into three strategic segments; Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. [2] As of December 2022, Fortive has over 18,000 employees in 60 countries worldwide. [3] Fortive was spun off from Danaher in July 2016. [4]
Danaher spun off several subsidiaries, including Gilbarco Veeder-Root, in 2016 to create Fortive. [11] In 2018, Gilbarco Veeder-Root announced acquisition of Midco Limited, an Indian fuel dispenser manufacturer based out of Mumbai. Midco has a production unit in Vatva, Gujarat with installed capacity of 50,000 nozzle pumps per annum.
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Fortive Corporation (NYSE:FTV) shares are trading lower after the company reported third-quarter results. Revenue grew 3% year-over-year to $1.54 billion, missing the consensus of $1.553 billion.
They manufacture and contract the production of many air tools, electric tools, hand tools and diagnostic tools. [2] The company was founded by Bill Mattison and Joe Cornwell. They combined their names to form the company's name, Matco, in 1946 and began selling direct to professional mechanics in 1979. [ 3 ]
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