Westburne buys firms in Canada, California
Another letter of intent was executed for the purchase of the assets of City Pipe and Supply Co. of Ventura, Calif., to become part of Westburne’s Plumbing and Waterworks Group in the United States. Russ Wright, the sole owner of City Pipe, will remain as branch manager.
In other news, Westburne announced earnings per share of nine cents (U.S. dollars) for the first quarter, an increase of 16.7% over the eight cents per share in 1998. Sales totaled $347.2 million, including $11.7 million from acquisitions, a 5.4% increase from 1998.