ESSEN, Germany, Sept. 30, 2005 (BUSINESS WIRE) -- ista, an international market leader in consumption-based billing of energy, water and ancillary costs, acquires ROWI Heizkostenverteiler GmbH located in Bad Oeynhausen near Bielefeld with effect from Sept. 20.
The metering service provider in East Westphalia was established in 1968 and recorded sales of EUR 2.5 million [US$3 million] in 2004 with 20 employees and more than 50,000 dwellings billed. The previous owners have decided to sell now for age and health reasons.
For Walter Schmidt, CEO of ista International, "ROWI is a perfect addition to our portfolio since it has an identical business model. The company will give us stronger presence and therefore a better competitive position, especially in the Bielefeld/East Westphalia region." Mr. Schmidt sees potential for providing modern meters and services.
The new managing directors, Norbert Schulze and Dr. Dieter Hackenberg from ista Deutschland, jointly manage the company with immediate effect.
Commenting on the sale, the former owners said: "In ista we have found the ideal partner for our customers; it will continue to offer the individual service which they are accustomed to receiving from our company."
ista (www.viterrausa.com) is the global market leader in consumption-based billing of energy, water and ancillary costs. The services offered to property managers, house-owners or utilities range from the delivery and installation of metering equipment to the metering and billing of consumption. ista had another successful year in 2004 with sales of approx. EUR 447 million. The roughly 3,200 employees worldwide record and calculate the individual energy and water consumption of approx. 10 million units (both residential and commercial).
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In other recent company news: "ista expands contract with Aradyme as result of project successes"
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