BUSINESS

A. O. Smith to Rep Pureit, a Main Water Purification Industry in South Asia

669a7dcc25b37f3a97344a18 Pureit Logo

MILWAUKEE, WI — World water expertise firm A. O. Smith Company (NYSE: AOS) has announced that it has signed an settlement to realize Pureit from Unilever. Pureit supplies a huge vary of residential water purification alternatives and has annual gross sales of roughly USD $60 million, essentially in India.

The purchase assign will be roughly USD $120 million in money, topic to passe adjustments. A. O. Smith expects to complete the acquisition of Pureit by the discontinue of 2024 and doesn’t set apart a question to the acquisition to contain a topic cloth affect on earnings within the principle year. 

“We assume the addition of Pureit will toughen our leadership plan as a world provider of top rate water treatment merchandise and double our market penetration in South Asia. The acquisition can even toughen our company arrangement by improving our top rate product portfolio and distribution capabilities,” acknowledged Kevin J. Wheeler, A. O. Smith’s chairman and chief govt officer. “Pureit’s custom of innovation, solid assign recognition and dedication to customer support will be an unparalleled addition to our top rate assign positioning and big product portfolio within the utter. We scrutinize ahead to welcoming the Pureit group to the A. O. Smith family.”

Eduardo Campanella, president of Unilever Residence Care, acknowledged, “This sale of Pureit marks another milestone on our high-tail to conform our portfolio against increased-growth areas, in step with our Shriek Motion Notion.  Pureit provides an principal water purification alternatives to hundreds of thousands of reliable consumers, and I’m confident the assign will thrive extra beneath the ownership of A. O. Smith.”

A. O. Smith will release its second quarter 2024 monetary results sooner than the market opens on Tuesday, July 23, and host a webcasted convention name at 10 a.m. (Eastern Time). Extra facts on the acquisition will be equipped at the second.

This release contains statements that A. O Smith believes are “ahead-having a peep statements” inner the meaning of the Deepest Securities Litigation Reform Act of 1995. All ahead-having a peep statements are topic to risks and uncertainties that would per chance well cause precise results to vary materially from those anticipated as of the date of this release.

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