Wisconsin Energy Acquires Pressure Tank Manufacturer
Wisconsin Energy Corp., acquired Park International, a privately held manufacturer of fiber-wound pressure tanks for the water treatment industry. The acquisition was made through WICOR Industries, Wisconsin Energy's manufacturing subsidiary. Details were not disclosed.
"The acquisition of Park International demonstrates our commitment to our manufacturing businesses," said Richard A. Abdoo, chairman, president and chief executive officer of Wisconsin Energy.
Production will continue at the Long Beach, Calif., facility with its 74 employees. It will become part of Wisconsin Energy's Sta-Rite operation, which makes pressure tanks for the water systems market.
Park will be a part of the new Water Treatment Group. "Park is a an excellent strategic fit with our business," said James C. Donnelly, president and chief executive officer of WICOR Industries. "With Park's technology and product line, we will be able to expand out offerings for our current markets, enter new markets and strengthen out position as a component supplier for the water treatment industry."
(Source: Sta-Rite Water Treatment Group)