WaterBriefs: Water Pik Technologies sells heating systems business to Bradford White
Also in this report: seepex Inc. to expand facility by third; Pure Technologies Ltd. announces new business unit; Pacific Ozone segment viewable at World Business Review website; Hughes Supply acquires Ram Pipe and Supply; First World Rivers Day set for Sept. 25; Ukraine's UA International Group to acquire KYG...
In other news below, see:
-- seepex Inc. to expand facility by third
-- Pure Technologies Ltd. announces new business unit
-- Pacific Ozone segment viewable at World Business Review website
-- Hughes Supply acquires Ram Pipe and Supply
-- First World Rivers Day set for Sept. 25
-- Ukraine's UA International Group to acquire KYG
Water Pik Technologies sells heating systems business to Bradford White
NEWPORT BEACH, CA, July 1, 2005 (BUSINESS WIRE) -- Water Pik Technologies Inc. has completed the sale of its Laars® Heating Systems business to Bradford White Corp. for $24.3 million. The sale includes a manufacturing facility in Rochester, N.H., and a distribution center in Oakville, Ontario, Canada, that produces and distributes a comprehensive line of Laars branded boilers and water heaters for commercial and residential applications. The sale is not expected to have a material impact on operating income for the remainder of fiscal year 2005, other than the effect of recording the transaction. As previously announced, the board of directors is continuing its review of strategic alternatives for the company.
Bradford White (www.bradfordwhite.com) is a full line manufacturer of residential, commercial and industrial products for water heating, space heating, combination heating and storage applications. It's based in Ambler, Pa., and has manufacturing facilities in Middleville and Niles, Mich., and Mississauga, Ontario, Canada.
Water Pik Technologies Inc. (www.waterpik.com) is a leading developer, manufacturer and marketer of innovative personal healthcare products and swimming pool and spa products sold under the Water Pik and Jandy brand names. It has developed and introduced many products that are considered the first of their kind and have led to the formation of new markets, including the automatic toothbrush, end-of-faucet water filtration system, pool heater and pulsating shower massage. The company's products are sold through a variety of channels, including home centers, mass-merchandisers, drug store chains and specialty retailers, wholesalers and contractors. Based in Newport Beach, Calif., Water Pik operates eight major facilities in the United States and Canada
seepex Inc. to expand facility by third
ENON, OH, June 30, 2005 -- seepex Inc. recently completed a major expansion at their American headquarters in Enon Ohio. The addition marked a 30% increase in total facility space, resulting in 26,000 square feet to accommodate consistent growth since their last building expansion in 1999. This addition, completed in April 2005, allows for a 42.6% increase in factory space and a 20% increase in office space.
A spacious conference/training room, capable of seating 60, and offices to accommodate 8 additional administrative personnel were added.
The new factory space supports a streamlined workflow in the areas of pump assembly, stator production, materials handling, and shipping. Additions within the new space include an enclosed and heated paint booth, a stator adhesive application booth, a tube rinse station, an elastomer storage room, and a 73% area increase in the air-conditioned stator measuring room. Acquisitions for the new space include a new mill and lathe, a 30,000 psi rubber injection machine, two lift trucks, overhead traveling cranes, new pallet shelving and cantilever racks.
seepex Inc. (www.seepex.com) manufactures progressive cavity pumps and is a subsidiary of seepex GmbH + Co. in Bottrop, Germany.
Pure Technologies Ltd. announces new business unit, senior management appointee
CALGARY, Alberta, Canada, June 30, 2005 -- Peter Paulson, CEO of Pure Technologies Ltd., has announced Larry Bowe Jr. as president of a newly-formed business unit, PureTech Systems Inc. Based in Phoenix, Ariz., Bowe will be responsible for accelerating the development and market deployment of PureLink, Pure's industry-leading GIS-based surveillance and alarm management solution.
Bowe has extensive experience in the security industry and comes to PureTech from a position as Vice President, Business Development with Verint Video Solutions, Inc., (previously Loronix) a wholly-owned subsidiary of Verint Systems Inc. Prior to this, Bowe was Director, Global Solutions Development, for the Homes and Buildings Division of Honeywell Inc.
Paulson said, "The electronic security equipment market is a $50 billion plus market that offers significant opportunities for Pure Technologies. PureTech will pursue an aggressive product strategy to become a major supplier of physical outdoor intrusion detection and proactive alert notification systems to the security market. Pure's proven expertise in remote monitoring, combined with its innovative software development capabilities, will allow PureTech to establish and maintain leadership in a rapidly-changing marketplace. Under Bowe's leadership, the unit will yield significant financial contribution to the corporation within three years."
Pure Technologies (www.puretechnologiesltd.com) is an international technology company which has developed patented and proprietary technologies for management and surveillance of critical infrastructure. Applications for these technologies include water and wastewater pipelines, bridges, nuclear power plants, high-rise buildings, parking structures and other structures throughout the world. Pure designs and supplies the systems and provides continuing remote monitoring and technical support from its headquarters in Calgary, Canada, its subsidiary in the United States, and a strategic partnership overseas.
To find out more about PureTech Systems Inc., see: www.puretechsystems.com.
Pacific Ozone segment in streaming video on World Business Review website
BOCA RATON, FL, June 30, 2005 -- Multi-Media Productions Inc. announces the appearance of Pacific Ozone Technology on World Business Review hosted by General Alexander Haig. This segment of World Business Review focuses on the benefits of using ozone as an alternative to water and air purification. Pacific Ozone will present the technology they provide to the market, addressing this very important issue.
Brian Johnson, Pacific Ozone president, noted, "Pacific Ozone Technology is a complete ozone partner to users who need ozone as an integral part of their industrial process. We don't just sell ozone generators-we supply ozone know-how and expertise that help our customers succeed with their ozone application. In addition, we work closely with customers who have unique applications and needs, ensuring they get a solution that works properly and efficiently. We offer thoughtful service and support not only to our established worldwide customer base, but also to others who have an application requiring an ozone solution."
Since 1987, Pacific Ozone Technology (www.pacificozone.com) has been a supplier of OEM air-cooled, corona discharge ozone generators and integrated ozone/ oxygen systems and process controls. In addition to their products, they offer engineering support and development services that meet their customer's application- specific requirements. Their solitary focus on ozone integration benefits their customers by effectively and profitably assisting them in bringing their ozone related products to market.
World Business Review (www.wbrtv.com) airs on CNBC (as paid programming) and the Bravo! Network (as paid programming). World Business Review may also be viewed on United Airlines in-flight TV, or through video on demand via www.wbrtv.com The WBR Series is also available at more than 90 prestigious college universities, including Carnegie Mellon University, the University of Notre Dame, Dartmouth College and Georgetown University.
Hughes Supply acquires Ram Pipe and Supply
ORLANDO, FL, June 30, 2005 (PRNewswire-FirstCall) -- Hughes Supply, Inc. has completed the acquisition of Ram Pipe and Supply Inc., a distributor of plumbing and water and sewer products serving the Yuma, Ariz., area. Terms of the transaction were not disclosed.
Ram Pipe and Supply was formed in 1989 by Ron Martin, who will remain with the company. A single branch operation, Ram Pipe and Supply has developed a strong reputation as the leader in the residential and commercial plumbing and waterworks markets in the fast-growing Yuma, Arizona area. The company generated sales of about $14.0 million in its latest fiscal year ended Dec. 31, 2004.
Hughes Supply Inc. (www.hughessupply.com), founded in 1928, is one of the nation's largest diversified wholesale distributors of construction, repair and maintenance- related products, with over 500 locations in 40 states. Based in Orlando, Fla., Hughes employs about 9,400 associates and generated annual revenues of over $4.4 billion in its last fiscal year.
World Rivers Day, a British Columbia tradition grows into a global event
BURNABY, BC, Canada, June 29, 2005 (PRNewswire) -- Today marks the announcement of World Rivers Day (WRD), the first initiative to mobilize a global response addressing the urgent need for improved management and conservation of river ecosystems worldwide while at the same time celebrating the value of our international waterways.
Millions of people, and thousands of international organizations, are expected to contribute to World Rivers Day on Sept. 25. The event is being led by non-government organizations around the world and is being endorsed by the United Nations University; and the International Network on Water, Environment, and Health -- both UN agencies.
Planned WRD events include river cleanups, fish enhancement projects, international workshops, educational programs, and riverside festivals. "It's pretty exciting to see an event that started 25-years ago in BC evolve into such positive efforts to better care for our rivers around the world," says Mark Angelo, founder of both World and BC Rivers Day, and head of BCIT's Fish, Wildlife Recreation Department. "Beyond celebrating our rivers, WRD will also hopefully encourage people to be more active as river stewards and will create a greater public awareness of the many threats that confront our waterways."
Angelo, who is now the WRD Chair, started BC Rivers Day in 1980, which has since become the biggest event of its kind in North America with more than 75,000 people participating last year, province wide. The success of BC Rivers Day will be used as a template for World Rivers Day. The event is already fostering solidarity amongst international organizations focusing on water-related issues while promoting core values associated with sustainability, conservation, and stewardship activities. "Rivers are the arteries of our planet," says Angelo. "And WRD will provide an opportunity for people to get out and enjoy our waterways and appreciate the extent to which they contribute to the quality of life in their communities."
WRD also complements the water-related efforts of the United Nations, which recently launched a 10-year initiative to raise awareness of water issues around the world and halve, by 2015, the number of people who are unable to reach or afford safe drinking water. Last year, Angelo was recognized by the UN as the inaugural recipient of the International Year of Fresh Water Stewardship Award for his river conservation efforts at home and abroad. Angelo was also joined at today's announcement by the Honorable Barry Penner, BC Minister of Environment, and Bob Sanford, the chairman of UN Water for Life/Canada.
Ukraine's UA International Group to acquire KYG
KIEV, Ukraine, June 29, 2005 (BUSINESS WIRE)-- --UA International Group, a Ukrainian infrastructure and real estate development company, announced June 20 that it entered into a letter of intent to acquire Kyivenergomafh (KYG), a company that specializes in providing electric infrastructure, technology, and software that provides connectivity to the Ukraine national electric grid system. KYG provides electricity to commercial, residential and industrial regions in seven states in the Ukraine. KYG's unaudited financial statements for its 2004 fiscal year show about $2 million in revenues, with after tax income of about US$575,000. KYG's financial statements will be audited prior to closing of the proposed merger, which is expected to occur within 60 days.
Alexander Chugay, president of KYG and a board member of UAIG commented: "KYG is pleased to become part of UA International Group, which we believe is well poised to become a major player in the rapid build out of basic and very necessary infrastructure in the Ukraine, namely the efficient and safe delivery of electricity, oil and water. Their expertise in these fields has been established and with the rapid economic growth underway in the Ukraine, the products and services offered by UAIG will continue to be in high demand. We are also highly optimistic about the very promising high-end residential apartment buildings currently under construction. With the synergies provided by our companies joining forces, we are very excited about the prospects for our future."
Vitaly Jigun, President of UAIG commented: "UAIG and KYG have significant synergies, as both companies are providing key infrastructure services (including water, oil and electricity) to the Ukrainian people. We believe that the acquisition of KYG by UAIG will provide significant cost savings as we will be able to combine and streamline our sales and marketing efforts. Further, KYG brings with it a growing client list which will help UAIG grow its revenues and earnings at a faster pace. We are very pleased with this acquisition, which fits well into our corporate strategy of using equity capital to purchase profitable and growing businesses in the infrastructure and development field in which we operate. We are currently in discussions with other companies in this field, as we intend to continue to grow our revenues and earnings through both internal development and further acquisitions."
Alexander Chugay is a director of both UAIG and KYG and a fairness opinion regarding the transaction will be rendered prior to the closing of the merger. Currently, UAIG has agreed to issue 20 million "restricted" common shares in UAIG to the KYG shareholders at the closing of the proposed merger. However, this consideration is subject to the fairness opinion and audit validating the purchase price.
Management believes that the Ukrainian economy is primed to achieve high levels of sustainable growth for the next several years. Ukraine has many of the components of other major European economies -- rich farmlands, a well-developed industrial base, a highly trained labor force, considerable natural resources and a good public education system. The political revolution at the end of 2004 brought to power a pro-market and pro-West government. The country's economic prospects have improved dramatically, and estimates for GDP growth in the Ukraine are rising. Recently, President Bush pledged to back Ukrainian entry into the World Trade Organization. The International Center for Policy Studies is forecasting a 7% rise in GDP for 2005 and a 7.5% rise in GDP for 2006, as well as an increase in the value of the Ukrainian currency (Grivna). Management believes that UA International Group is positioned to make significant profits from the apartment buildings they have already started to develop, and anticipates selling numerous apartments in 2006.
Based in Kiev, Ukraine, UA International Group (www.uaig.com.ua) is an infrastructure and real estate development company. Management believes the company is well positioned to show significant growth in sales and profits in the months and years ahead. Specializing in water treatment, delivery, filtration, drilling and sewage, UAIG is in position to become the prime water company in Ukraine. UAIG has several well-known international partners and clients and has received many of the highest international awards possible in its core business and for its overall corporate philosophy and performance. Having currently diversified into high-end residential real estate development and leasing, UAIG's management believes that the company is now prepared for substantial growth in revenue and income.
In earlier newsbriefs, see:
-- "WaterBriefs: Aqua America expands footprint in 2Q with six acquisitions" -- Also in this report (June 30, 2005): Southwest Water Co. sells Master Tek subsidiary; Emerson schedules global users conference for Oct. 3-7; Chemilizer offers industry-first warranty for filterless injectors; PBS&J's DePue to chair ASFPM subcommittee; Research & Markets adds Zenith's Asian bottled water market report; Innova Pure Water acquires two companies; South Beloit water utility to be sold to Illinois-American Water...