The acquisition will further expand ECR's product offering and increase market share.
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."