Acquisition ¿

>> Rheem Manufacturing Co. and its parent company, Nagoya, Japan-based Paloma Industries, reached a definitive agreement to acquire the Australasian water heater businesses of Southcorp Holdings Ltd., effective Dec. 31. The acquisition includes Southcorp¿s water heater businesses in Australia and New Zealand; its Australian solar water heater company, Solahart; and its interest in Hotstream, a joint venture in China. It does not include Southcorp¿s American Water Heater Co.