Jan 20 2005
Textron has announced the formation of a joint venture between its Greenlee business unit and Rothenberger AG, a leading German-based plumbing and electrical tools manufacturer. The venture is aimed at expanding sales of professional plumbing products and pipe tools in the U.S. and Canada. Terms of the joint venture, which will sell products primarily under the Rothenberger brand name, were not disclosed.
"This partnership combines the strength of two very strong professional tools companies, and advances our strategy to broaden our presence in attractive growth areas that complement our existing business," said Scott Hall, president, Greenlee, a Textron company. "The U.S. and Canadian plumbing and pipe tools market represents a nearly $1 billion growth industry."
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. "This joint venture was a natural match," added Hall. "Rothenberger, with its leading product offerings, truly complements Greenlee's strong North American customer base in the plumbing and electrical tools segments - an area where we anticipate continued expansion."
"Rothenberger LLC will offer a complete range of high quality plumbing and pipe tools available to the professional plumber, and the U.S. and Canadian plumbing industry now has a premium option," adds Dr. Helmut Rothenberger, president of Rothenberger AG.