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Milwaukee yochokera ku U.S. water systems solutions company Zurn Water Solutions Corp. said on Feb. 14 that it has reached an agreement with Elkay Manufacturing Co. to acquire Elkay Inc. (Kachimbo) in an all-stock transaction. Zurn Water Solutions stock on Feb. 14 closed at $33.40, pamwamba 12.1 percent from its closing price on Feb. 11.
Elkay ndi wamtengo wapatali $1.56 biliyoni (pafupifupi $9.888 biliyoni). Zurn (Ny: ZWS) will change its name to Zurn Elkay Water Solutions after the deal closes this summer.
Upon completion of the transaction, Ogawana nawo a Zurn Water Solutions adzakhala eni ake pafupifupi 71 peresenti ya kampani yophatikizidwa, pomwe eni ake a Elkay adzakhala eni ake pafupifupi 29 peresenti ya kampani yophatikizidwa.
Todd Adams, wapampando ndi CEO wa Zurn, adati kugulaku ndi gawo lofunikira ku cholinga cha Zurn chochulukitsa kukula kwake mzaka zingapo zikubwerazi.. Ndiwonso kusamuka kwakukulu kwa kampaniyi mpaka pano kuyambira pomwe Zurn Water Solutions idasiya kampani yake, Rexnord, kukhala wodziyimira pawokha.
Anakhazikitsidwa mu 1920, Elkay has been family-owned and operated and is the largest stainless steel sink company in the United States. Zopereka zake zakula ndikuphatikiza masinki, mabomba, zoziziritsira madzi, akasupe akumwa ndi zogona ndi malonda khitchini ndi bafa mankhwala.
Elkay’s brands include Elkay, Dayton ndi Halsey Taylor, ndipo kampaniyo ili ndi maofesi ku United States, China ndi Mexico.
Kachimbo (China) adakhazikitsidwa 2005 with a registered capital of 110 miliyoni yuan. Its manufacturing base is in Zhuhai, Haangdong, and it has branches in Beijing, Shanghai ndi Shenzhen.
The merger of the two companies will provide a suite of innovative water-specific solutions and offer water safety, water quality and water conservation services to key markets such as education and healthcare, Adams said. The combined company will continue to trade on the New York Stock Exchange. It will be traded under the ticker symbol ZWS and will be headquartered in Milwaukee. Kampaniyo idzasamaliranso ntchito kudera la Chicago, where Elkay is located.
