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O'Keefe continued, "We are pleased with the acquisition of Dormont. Dormont is a well-managed company with a strong brand name. Dormont provides us access to several new channels of distribution while allowing us to offer a broader product line to our existing professional contractor customer base. Dormont's annual revenue for 2005 is expected to be approximately $56.5 million. Under the terms of the purchase agreement, Watts will pay $94.5 million in cash to purchase all of the outstanding stock of Dormont and the land on which Dormont's manufacturing facility is located, subject to a post-closing working capital adjustment. Watts intends to fund the transaction with borrowings under its credit facility and cash on hand."

Taco provides its valued customers with industry leading innovation and quality systems designed to maximize instant hot water comfort and convenience while conserving energy and reducing water consumption.

Provide your customers with the comfort and convenience of instant hot water without the waste. Taco DHWR products are designed to meet a variety of DHWR system types, and offer customers a wide range of options to control hot water delivery to faucets and showers.

This system is provided with a dedicated return line installed between the end of the hot water supply pipe and the water heater. A circulator is installed in the piping loop to move the hot water from the water heater through the supply pipe and back through the return pipe.

Watts Water Technologies' CEO, Patrick S. O'Keefe, said, "Dormont Manufacturing Co. is a leading provider of flexible stainless steel connectors for natural and liquid propane gas connectors. Dormont is a leader in commercial food service applications with a significant portion of North American sales and a leading position in the United Kingdom. Dormont also works with appliance OEM's to provide internal component assemblies and private label gas connectors, which are sold under the OEM brand with the appliance in multiple leading retails chains. Dormont also supplies residential gas connectors through multiple trade channels and home improvement retailers."

It’s a common problem: turn on the faucet or shower for hot water, then wait for it to arrive. In fact, the wait can be minutes in larger homes with multiple bathrooms and long runs of pipe between the plumbing fixtures and the water heater! With a Taco Domestic Hot Water Recirculation System in place, there’s no more wait. Instant hot water!

Waiting for hot water sends millions of gallons of cooled water down the drain each year. In fact, an average family of four wastes up to 12,000 gallons of water each year waiting for hot water.* Water conservation is so im- portant that many US states and municipalities routinely impose watering bans and offer rebate incentives to help conserve this natural resource.

Of course, all that “waiting water” contains some heat energy (BTU’s), even if it’s only room temperature. Wasting those BTU’s and starting over with fresh, cold water to heat up requires even more heat energy. So in addition to wasting water, millions of BTU’s and energy dollars are wasted, too.

A domestic hot water system without a dedicated return line requires a “point of use” product that is typically installed at the fixture furthest from the water heater. The cold water supply pipe is used as the return line to the water heater.

The acquisition of Dormont is expected to close by December 31, 2005. The consummation of the acquisition is subject to customary closing conditions, including expiration of the waiting period under the Hart-Scott-Rodino Act.

Watts Water Technologies, Inc. announced the signing of a definitive agreement to acquire Dormont Manufacturing Co., located in Export, Pa., in a stock purchase transaction.