MILWAUKEE--(BUSINESS WIRE)--Apr. 15, 2014--
Today Rexnord (NYSE: RXN) announced that it has acquired Green Turtle
Technologies Ltd., Green Turtle Americas Ltd. and Filamat Composites
Inc. (collectively “Green Turtle”). Based in Toronto, Ontario, and
Charlotte, North Carolina, Green Turtle serves the North American market
and has annual sales of approximately $18 million (USD).
Green Turtle® is a leading provider of wastewater
pretreatment solutions for commercial, institutional and industrial
applications. With 20 years of experience in effluent water management
and environmental problem-solving, the company’s technology and
expertise help customers meet sanitary sewer regulations while
protecting the environment, public health and communities. It will
operate as part of Zurn Industries, LLC, a leading provider of
commercial plumbing products within the Rexnord Water Management
platform.
“Zurn is excited about the addition of Green Turtle and its position as
a market leader, giving us the ability to offer another environmentally
friendly solution to customers,” said Craig Wehr, President,
Zurn. “Green Turtle’s Proceptor™ and Retroceptor™
products provide an excellent complement to the existing Zurn offering.”
The patented line of Green Turtle products addresses rapidly developing
needs for outdoor interceptors and supports the Zurn growth strategy to
increase total content in non-residential construction and retrofit
applications. Aligning the brand strength of Zurn and Green Turtle, and
leveraging combined sales channel capabilities, enables expanded access
into current and adjacent markets.
About Rexnord
Headquartered in Milwaukee, Wisconsin, Rexnord is comprised of two
strategic platforms, Process & Motion Control and Water Management, with
approximately 7,400 employees worldwide. The Process & Motion Control
platform designs, manufactures, markets and services specified,
highly-engineered mechanical components used within complex systems. The
Water Management platform designs, procures, manufactures and markets
products that provide and enhance water quality, safety, flow control
and conservation. A leading brand of Rexnord, Zurn Industries, LLC
manufactures a wide range of engineered water solutions, including a
diverse offering of plumbing products, and is a recognized leader in
commercial, municipal and industrial markets. Zurn delivers total
building solutions for new construction and retrofit applications that
enhance building environments. For more information, visit www.rexnord.com
and www.zurn.com.
Cautionary Statement on Forward-Looking Statements
Information in this release may involve outlooks, expectations, beliefs,
plans, intentions, strategies or other statements regarding the future,
which are forward-looking statements. These forward-looking statements
involve risks and uncertainties. All forward-looking statements included
in this release are based upon information available to Rexnord as of
the date of the release, and Rexnord assumes no obligation to update any
such forward-looking statements. The statements in this release are not
guarantees of future performance, and actual results could differ
materially from current expectations. Numerous factors, such as
Rexnord's ability to integrate the acquired business and operations into
Rexnord and the potential disruptions inherent in any acquisition, could
cause or contribute to such differences. Please refer to "Risk Factors"
and "Cautionary Notice Regarding Forward-Looking Statements" in
Rexnord's Form 10-K for the fiscal year ended March 31, 2013 as well as
Rexnord's annual, quarterly and current reports filed on Forms 10-K,
10-Q and 8-K from time to time with the Securities and Exchange
Commission for a further discussion of the factors and risks associated
with the business.
Source: Rexnord
Rexnord
Peter Budney
VP Corporate Marketing
414.643.3000
/ 855.480.5050
peter.budney@rexnord.com