Pentair Inc. said Wednesday it has purchased the assets of Delta Environmental Products Inc., a privately held wastewater treatment products company in Louisiana. Terms were not disclosed.
Pentair, a Golden Valley manufacturer, said the purchase will add to earnings within the first year of ownership.
In a prepared statement Wednesday, Pentair said Delta, which reported 2004 sales of about $12 million, will become part of its water and wastewater business.
"The market for safe, effective onsite wastewater disposal is growing rapidly, as more than 25 percent of new housing starts use onsite treatment methods, said Richard Cathcart, Pentair vice chairman and president of the company's water group.
The group reported revenue of $1.56 billion and operating income of $197.3 million in 2004. Overall, Pentair's 2004 revenue was almost $2.28 billion.
According to Thomson First Call, Wall Street is expecting the company to earn $2.05 a share in 2005 and $2.38 a share in 2006. In 2004, the company reported earnings of $1.68 a share, which included 33 cents a share of earnings from discontinued operations.
Source: Dow Jones News Service