A.O. Smith Closes Acquisition Of State Industries
According to A.O. Smith, the acquisition will increase the scope and penetration of its residential water heating business by complementing A.O. Smith's wholsale-only residential business with State Industries' retail, wholesale, home construction and manufactured home market channels.
A.O Smith Water Products Company expects the acquisition to have a positive earning share of .15 cents per share in 2002 and approximately .30 cents per share in 2003.