Watts Acquires Taizhou Shida
Watts Water Technologies has acquired the 40% equity interest in Taizhou Shida Plumbing Manufacturing Co., Ltd. ("Shida") that had been held by its former Chinese joint venture partner. Watts now owns 100% of Shida. The company provides Watts with low-cost hose, hose connectors, multi-layer tubing and stainless steel braided hose. Watts also announced that it has acquired 90% of the stock of TEAM Precision Pipe Work, Ltd., located in Ammanford, West Wales, U.K. TEAM designs and manufactures pipe and hose tubing assemblies for the HVAC oem market. It has approximately $11 million (U.S.) in sales.