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AG to expand plumbing and pipe tools market in North America
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Insider News - January 27, 2005 - Jobwerx News - Textron
Inc. is forming a joint venture between its Greenlee business unit and
Rothenberger AG. The partnership will expand sales of professional plumbing
products and pipe tools in the U.S. and in Canada, which is a market
representing nearly $1 billion.
Rothenberger AG based in Germany is a leading plumbing tools manufacturer.
The Greenlee business unit of Textron is a professional tool company
and this venture will permit it to sell it's products primarily under
the Rothenberger brand name to the professional plumber.
The new joint venture, Rothenberger LLC, will be based in Rockford,
IL, and will combine Rothenberger's broad line of German-designed plumbing
and pipe tools with Greenlee's strong sales and marketing expertise
and support in North America. The joint venture complements Greenlee's
strong North American customer base in the plumbing and electrical tools
segments which is positioned for growth.
About Rothenberger
Rothenberger is a privately held, German-based manufacturer of plumbing
and pipe tools with over 300 million Euros in sales and 1,200 employees
in 40 subsidiaries worldwide. Rothenberger offers the world's broadest
line of plumbing and pipe tools sold under a variety of brand names
including Rothenberger and Super Ego.
About Greenlee
Greenlee, a 140-year-old Textron company based in Rockford, IL, is a
leading manufacturer of professional grade tools for the electrical
contractor, with product lines ranging from hole making and conduit
benders to meters and cable pullers.
About Textron (NYSE: TXT)
Textron Inc. is a $10 billion multi-industry company with more than
43,000 employees in nearly 40 countries. The company leverages its global
network of aircraft, industrial and finance businesses to provide customers
with innovative solutions and services. Textron is known around the
world for its powerful brands such as Bell Helicopter, Cessna Aircraft,
Kautex, Lycoming, E-Z-GO and Greenlee, among others.
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