Watts Industries Acquires Dumser Metallbau GmbH & Co. KG

    NORTH ANDOVER, Mass.--Jan. 23, 2001--Watts Industries, Inc. announced today that it has acquired Dumser Metallbau GmbH & Co. KG located in Landau, Germany. The main products of Dumser are brass, steel, and stainless steel manifolds used as the prime distribution device in hydronic heating systems, for which it has gained the reputation as a market leader in the European hydronic heating industry.
    A second and equally prestigious range of products produced by Dumser are "Boiler Sets" which comprise a wall-mounted cabinet to be installed in the vicinity of the boiler, containing the factory assembled set of the circulation pump, as well as the pressure, temperature and flow controls. This "Boiler Set" is designed to save the installer time in the installation of a hydronic heating circuit and changes a time-consuming and some times complex series of tasks into one simple task.
    The terms of the deal were not disclosed, however, Watts Industries' Chairman and Chief Executive Officer, Mr. Timothy P. Horne, stated, "We are excited with this acquisition, as it strengthens our leadership in the European hydronic heating markets. The combination of the manifolds currently offered by Watts Cazzaniga and Dumser provides one of the most extensive ranges of manifolds in the industry. In addition, Dumser products are ideally suited to be used in conjunction with the hydronic heating systems currently provided by our recent acquisition, Heatway based, in Springfield, Missouri."
    Dumser had approximately $24 million (U.S) in sales for the twelve months ended December, 2000. Dumser has a 51% controlling share of Stern Rubinetti, a $4 million Italian manufacturing company producing brass components located in Brescia, Italy.
    Watts Industries with worldwide sales exceeding $500 million designs, manufactures, and sells an extensive line of valves to the Plumbing and Heating and Water Quality markets.