Davey Water Products Acquired by Waterco
Global water treatment and pool equipment manufacturer Waterco (ASX: WAT) (Company/Waterco) has acquired Davey Water Products Pty Ltd (Davey) from GUD Holdings Limited (GUD). "We are excited about the potential synergies between Waterco and Davey," says Soon Sinn Goh, CEO of Waterco. "By working together, we believe we can create a stronger and more competitive water treatment and pool equipment business." Davey and Waterco are two leading Australian companies in the water treatment and swimming pool industries and the focus is now on discovering synergies and collaboration between the two companies. "We believe this approach would be less disruptive than a full merger or integration but will still lead to significant benefits for both companies," Goh explains. The company will focus on three key areas:
"By adopting a long-range outlook, Waterco is positioning itself for success in the years to come," says Goh. "Davey is an iconic Australian brand; we are respectful of its long heritage and understand the need for careful planning and execution in order to minimise disruption to the company's operations and reputation." Davey has been manufacturing water pumps and other water treatment products in Australia for nearly 90 years, a tradition Waterco intends to keep. "We are proud of its local manufacturing capabilities, which we believe are essential for the company's future success," Goh explains. Davey has a team of experienced and skilled engineers and technicians who are dedicated to creating high-quality products that meet the needs of its customers. Davey COO Peter Wolff says the company is confident that this combination will be successful. "We are committed to working with Waterco to create a winning team and leverage the strength of both brands," he says. Visit www.waterco.com.au for more information.
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