ECR International To Acquire Argo Industries
ECR International Inc., parent company of several notable industry manufacturers, including Dunkirk Boilers, Utica Boilers and Enviromaster International, announced it has signed a letter of intent to acquire Argo Industries Inc., a manufacturer of fin-tube radiation for residential and light commercial use, electric boilers and control systems for hydronic applications. The acquisition is expected to be complete by the Fall of 2001.
ECR President and COO Timothy R. Reed stated, "The acquisition of Argo Industries will complement the current product families of ECR's heating and cooling divisions and allow ECR to further expand its product offering and increase market share."
Mr. Reed also stated the acquisition of radiation products and controls will allow ECR to offer a complete package of heating and cooling products to its customers.
In addition to the pending acquisition of the Berlin, Conn.-based company, ECR operates five other manufacturing facilities in the United States and Canada, while marketing nine brands of HVAC equipment worldwide.