A. O. Smith Corp. and Takagi Industrial Co. announced that they are establishing a joint venture to market and manufacture tankless water heaters in North America.
A. O. Smith Corp.andTakagi Industrial Co.of Fuji-city, Shizuoka, Japan, announced
that they are establishing a joint venture to market and manufacture tankless
water heaters in North America. A. O. Smith will take over the management of
Takagi’s existing North American sales and distribution organization,
maintaining Takagi’s North American headquarters in Irvine, CA. The companies
expect the transaction to close in the third quarter.
“This venture is an important investment by A. O. Smith
that will further expand our offering of high-efficiency water heating
products,” saidAjita G. Rajendra, president of A. O. Smith
Water Products Co. “It represents a rare opportunity to combine Takagi’s
well-known brand and world-class tankless technology with the strong brands,
customer relationships, and extensive distribution of A. O. Smith.”
Through the joint venture, A. O. Smith will offer a full
line of tankless gas water heaters under its own brands in association with the
Takagi brand, and will assume responsibility for the Takagi brand in the U.S.
Source: A. O. Smith
A. O. Smith Enters Tankless Joint Venture With Takagi
June 18, 2010