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U.S. Watts Water Technologies acquires Austroflex

July 6, 2010

Watts Water Technologies, Inc. based in Massachussetts completed the acquisition of Austroflex Rohr-Isoliersysteme GmbH located in Carinthia, Austria in June 2010. Austroflex is an Austria-based manufacturer of pre-insulated flexible pipe systems for district heating, solar applications and underfloor radiant heating systems. Patrick O'Keefe, Chief Executive Officer, commented, "The acquisition of Austroflex provides us with a full range of pre-insulated PEX tubing, pre-insulated solar tubes and underfloor heating insulation. These products strengthen our offering in both traditional and alternative energy heating markets. Austroflex also expands our distribution capability and positions Watts as a major supplier of pre-insulated pipe systems in Europe." Austroflex's annual revenue for 2009 was approximately 23 million USD. 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 positions it as a comprehensive supplier to the water industry.