Nov. 3, 2014: Rheem Acquires Chilean Water Heater Manufacturer CEM
Acquisition Increases Rheem’s Water Heating Offerings in South America
ATLANTA — Rheem announced that it has acquired CEM S.A., a Chilean company that manufactures and distributes tankless, solar, and tank water heating products. CEM sells its products under the Splendid brand name throughout South America.
Rheem said the addition of Splendid provides it with several competitive solutions to meet consumer demands in South America. Splendid’s primary market is Chile, but its products are also sold in Columbia, Peru, and Brazil, as well as certain export markets such as Mexico and Spain. Splendid products are sold at stores including Sodimac, Easy S.A., MTS, Construmart, and more, as well as through distribution.
“Splendid’s outstanding reputation throughout South America, and particularly in Chile, makes it an exciting addition to the Rheem family of brands,” said JR Jones, president and CEO, Rheem. “We have immediate plans to grow the brand within the region and beyond. Most international markets employ tankless water heating systems, so there is strong export potential for CEM’s line of mechanical tankless water heating products.”
Rheem has an international presence in 14 countries, and distributes its products to 75 countries. With its reach, Rheem said it will expand the distribution of Splendid’s products to other regions of the world that have similar water heating needs.
CEM will report to Rheem’s Water Heating Division, which is based in Montgomery, Alabama. Its portfolio includes tank, tankless, solar, and hybrid electric water heating systems for both residential and commercial applications. Rheem said it will leverage CEM’s operation in Santiago, Chile, to expand its presence in South America.
For more information, visit www.rheem.com.
Publication date: 11/3/2014