Watts Industries has signed a definitive agreement to acquire the assets and business of Changsha Valve Works, located in Changsha, China. Changsha Valve Works is a leading manufacturer of large diameter hydraulic actuated butterfly valves for thermo-power and hydro-power plants, water distribution projects and water works projects.
Changsha Valve works was founded in 1958 and has 385 employees, with annual revenue of approximately $8 million. Upon closing of the transaction, the Changsha Valve Works business will be operated as a wholly foreign owned enterprise of Watts.
Patrick O’Keefe, Chief Executive Officer for Watts Industries, commented: “Changsha Valve Works is one of the leading companies addressing the water works and water distribution markets. It comes to us with a well-known brand name and a significant level of technical expertise that will provide Watts with many opportunities over the coming years to serve this fast-growing market.”
The acquisition of Changsha Valve Works is expected to close by the end of January 2006.
- Solar powered air conditioning: the facts
- Air source heat pumps - how do they compare to...
- Shedding light on office lighting design
- Why chilled beams have hit the roof
- How underfloor heating drives down whole-life...
- A Glossary of construction terms
- Avoiding corrosion
- Time obligations in building contracts and rem...
- Providing safe hot water is vital
- Beeston launches new shell boiler ranges
There is an obvious need for the industry to be more energy efficient and pay more attention to the ways in which energy is both used and wasted. Do you think we have the products on the market to meet our needs?
