Dec. 5, 2013: Rheem Acquires Heat Transfer Products Group
One of Rheem’s Immediate Goals Is to Reinvigorate the Brand
“The acquisition is strategic for Rheem, and HTPG’s employees and customers will benefit from the partnership,” said JR Jones, president and CEO, Rheem. “Heat transfer technology is core to every product that both companies manufacture. Rheem and HTPG have the opportunity to combine an extensive knowledge of heat transfer technology to develop innovative new products.”
Rheem said one of its immediate goals is to reinvigorate the HTPG brand with significant product development. Rheem has made a considerable investment in integrating advanced electronic controls into its products, to create more efficient and better performing systems. The company will apply its electronic controls capabilities in the development of future HTPG products.
In addition, Rheem has an international business presence in 13 countries, and distributes its products to 75 countries. The company said that there’s a demand globally for HTPG’s products, and — with Rheem’s reach — it is in a prime position to export these products to new customers in international markets not presently served by HTPG.
“A number of Rheem customers sell heating, cooling, water heating, and refrigeration products, and many of them are also HTPG’s customers,” said Jones. “Aligning Rheem and HTPG will be a strong combination due to the common customers served and both companies having excellent reputations for quality and reliability.”
HTPG will be a standalone division of Rheem, like Rheem’s Raypak and Replacement Parts divisions, and its manufacturing operations will remain in Scottsboro. Rheem uses lean manufacturing techniques at all of its facilities throughout North America. The company will further optimize the HTPG facility in Scottsboro for increased effectiveness.
For more information, visit www.rheem.com.
Publication date: 12/2/2013