January 1, 2004
NORTH ANDOVER, Mass., Watts Water Technologies, Inc. (NYSE symbol "WTS") announced today that it has acquired the assets of Flowmatic, Inc. located in Dunnellon, Florida.
Flowmatic designs and distributes a complete line of high quality reverse osmosis components and filtration equipment. Their product line includes stainless steel and plastic housings, filter cartridges, storage tanks, control valves, as well as complete reverse osmosis systems for residential and commercial applications.
Watts Water Technologies' CEO, Patrick S. O'Keefe, said, "The acquisition of Flowmatic expands our filtration product offering and broadens our distribution capabilities. We currently provide a line of filtration products through our Watts Premier Division into the North American retail channel. Flowmatic markets its products through stocking distributors, OEM's and its dealer network. Flowmatic allows us more opportunities to provide solutions to our customers' water needs in this rapidly growing water filtration marketplace."
Flowmatic's annual revenue is approximately twelve million dollars.
Watts Water Technologies, Inc. is a world leader in the manufacture of innovative products to control the efficiency, safety, and quality of water within residential, commercial, and institutional applications. Its expertise in a wide variety of water technologies enables it to be a comprehensive supplier to the Water Industry.
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