A. O. Smith Corp. said it completed its acquisition of GSW, a Canadian-based manufacturer of water heaters and building products with 2005 sales of about $520 million (U.S.), for about $340 million in cash. This acquisition enhances A. O. Smith's position both in the growing retail channel of the U. S. residential water heater market segment and in the Canadian water heater market, the company said.
“The addition of GSW's American Water Heater Co. partners us with Lowe's, one of the leaders in the home improvement industry,” Ajita G. Rajendra, president of A.O. Smith Water Products, said in a statement. “As we integrate the GSW business, we intend to take advantage of our manufacturing capabilities to enhance our ability to serve the needs of our customers throughout the world.”
A.O. Smith Acquires GSW/American Water Heater Co.
May 10, 2006