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Article: A. O. Smith Agrees to Acquire Majority Interest in Tianlong Holding Co. Water Treatment Business.
- Article from:
- China Weekly News
- Article date:
- September 29, 2009
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A. O. Smith Corporation has signed an agreement to purchase a majority interest in the water treatment business of Tianlong Holding Co. Ltd. of Hong Kong.
A newly formed company, A. O. Smith (Shanghai) Water Treatment Products Co. Ltd., will hold the assets of the business and supply reverse osmosis (RO) water filtration products to the China residential and commercial markets as well as export markets throughout the world.
This new company will be a wholly owned foreign enterprise under Chinese law. A. O. Smith will pay approximately $77 million (U. S.) for an 80 percent share of the new company. The investment will be funded out of A. O. Smith's ...