Rexnord (NYSE: RXN) today announced that it has acquired the assets of
LWG Specialised Plumbing Products (LWG) from Hills Holdings Limited
(ASX: HIL). LWG is a leading Australia-based provider of plumbing
solutions for the non-residential construction market and has been a
distributor of select Zurn brand products for over 20 years. LWG has six
warehouse locations throughout Australia and annual sales of
approximately $14 million (USD). LWG distributes stainless steel
fixtures, tapware, back flow prevention devices, pressure reducing
valves and flushing systems.
“We are excited to acquire LWG after a 20-year relationship with them as
a distributor in the Australian market,” said Craig Wehr, President,
Zurn Industries, LLC. “The acquisition allows us to further penetrate
the non-residential construction market by expanding the portfolio of
Zurn products sold in Australia as well as giving us access to key LWG
distributed products to complement the existing Zurn offering in North
America. With coverage throughout the Australian continent, the
acquisition of LWG is a perfect fit for Zurn and provides a unique
opportunity to continue to grow our business globally.”
About Rexnord
Headquartered in Milwaukee, Wisconsin, Rexnord is comprised of two
strategic platforms, Process & Motion Control and Water Management, with
approximately 7,300 employees worldwide. The Process & Motion Control
platform designs, manufactures, markets and services specified,
highly-engineered mechanical components used within complex systems. The
Water Management platform designs, procures, manufactures and markets
products that provide and enhance water quality, safety, flow control
and conservation. For more information, visit www.rexnord.com.
About Zurn
A leading brand of Rexnord, Zurn Industries, LLC manufactures a wide
range of engineered water solutions, including a diverse offering of
plumbing products, and is a recognized leader in commercial, municipal
and industrial markets. Zurn delivers total building solutions for new
construction and retrofit applications that enhance building
environments. For more information, visit www.zurn.com.
Cautionary Statement on Forward-Looking Statements
Information in this release may involve outlooks, expectations, beliefs,
plans, intentions, strategies or other statements regarding the future,
which are forward-looking statements. These forward-looking statements
involve risks and uncertainties. All forward-looking statements included
in this release are based upon information available to Rexnord as of
the date of the release, and Rexnord assumes no obligation to update any
such forward-looking statements. The statements in this release are not
guarantees of future performance, and actual results could differ
materially from current expectations. Numerous factors, such as
Rexnord's ability to integrate the LWG business and operations into
Rexnord and the potential disruptions inherent in any acquisition, could
cause or contribute to such differences. Please refer to "Risk Factors"
and "Cautionary Notice Regarding Forward-Looking Statements" in
Rexnord's Form 10-K for the fiscal year ended March 31, 2013 as well as
Rexnord's annual, quarterly and current reports filed on Forms 10-K,
10-Q and 8-K from time to time with the Securities and Exchange
Commission for a further discussion of the factors and risks associated
with the business.
Copyright Business Wire 2013