Business Bits"
A. O. Smith Corp. and Takagi
Industrial Co. of Fuji-city, Shizuoka, Japan,
announced the establishment of a joint venture to market and manufacture
tankless water heaters in North America. A.O.
Smith will take over management of Takagi’s existing North American sales and
distribution organization, maintaining Takagi’s North American headquarters in Irvine, Calif.
The companies expect the transaction to close in the third quarter.
