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Fort Wayne, Indiana-based WaterFurnace Renewable Energy Inc. and Swedish manufacturer NIBE Industrier AB announced on June 23 that NIBE will acquire WaterFurnace in a $352 million transaction to be finalized in August, pending the outcome of an official vote by WaterFurnace shareholders.
WaterFurnace will keep its name and continue to operate as a separate entity under current CEO Tom Huntington, who said he was confident shareholders will approve the deal.
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