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.
- Smart home seminars for building services engi...
- Facing up the biomass emissions
- Lighting shouldn’t cost the earth
- What’s in store for 2010?
- Pluggable solution reduces damage
- New Gurdwara Sahib (Sikh temple) Leamington Spa
- A commercial scrappage scheme?
- The power to reduce energy consumption
- A joint commitment to cut carbon
- KNX matches stadium requirements
