Colfax to move HQ to Columbia

Colfax Corp., which makes industrial pumps and valves, announced Wednesday that it's relocating its Richmond, Va.-based headquarters to Columbia in January.

Clay Kiefaber, Colfax's chief executive, said in a statement that the new Maryland location provides "an opportunity to continue recruiting the associates we need to build the best team."

With proximity to Baltimore and Washington, the company "will have improved access to international travel and to our key advisors in the immediate area and the northeast," Kiefaber said.

The company reported $2 million in net income for the three months ending July 2.

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