The corporate history of Goulds Pumps began in Seneca Falls, New York in 1848, when Seabury S. Gould purchased the interests of Edward Mynderse and H.C. Silsby in Downs, Mynderse & Co., a pump making business which had started up in 1840.
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On October 31, 2011, Xylem Inc. completed its spinoff from ITT Corporation, and became a leading brand of water solution products, with 2011 revenues of $3.8 billion.
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On January 12, 2011, ITT Corporation announced its plan to separate the company into three, stand-alone, publicly traded, and independent companies.