Franklin Water Treatment Acquires Assets of Action Manufacturing & Supply, Inc.
December 04 2023 - 4:00PM
Franklin Electric Co., Inc. (NASDAQ: FELE) announced today that its
wholly owned subsidiary, Franklin Water Treatment, LLC, has
acquired the assets of Action Manufacturing & Supply, Inc., a
manufacturer and wholesale distributor of residential water
conditioning, filtration, and indoor/outdoor aeration systems since
1980 with operations in Florida and North Carolina. The operating
results of the acquired business will be reported in the company’s
Water Systems business segment.
Don Line, President of Franklin Water Treatment commented: “We
are excited to incorporate the business of Action Manufacturing
& Supply into our existing business as we continue to
strengthen and expand our channels and products in key geographic
areas for water treatment. Action’s commitment to quality and
reputation for service excellence aligns with Franklin’s
customer-driven approach to our businesses.”
Franklin Water Treatment, LLC provides products, services, and
system solutions for residential, commercial, and industrial point
of use and point of entry water treatment products, in a wide
variety of markets and applications.
About Franklin ElectricFranklin Electric is a
global leader in the production and marketing of systems and
components for the movement of water and energy. Recognized as a
technical leader in its products and services, Franklin Electric
serves customers around the world in residential, commercial,
agricultural, industrial, municipal, and fueling applications.
Franklin Electric is proud to be named in Newsweek’s lists of
America’s Most Responsible Companies and Most Trustworthy Companies
for 2023 and America’s Climate Leaders 2023 by USA Today.
"Safe Harbor” Statement under the Private Securities Litigation
Reform Act of 1995. Any forward-looking statements contained
herein, including those relating to market conditions or the
Company’s financial results, costs, expenses or expense reductions,
profit margins, inventory levels, foreign currency translation
rates, liquidity expectations, business goals and sales growth,
involve risks and uncertainties, including but not limited to,
risks and uncertainties with respect to general economic and
currency conditions, various conditions specific to the Company’s
business and industry, weather conditions, new housing starts,
market demand, competitive factors, changes in distribution
channels, supply constraints, effect of price increases, raw
material costs, technology factors, integration of acquisitions,
litigation, government and regulatory actions, the Company’s
accounting policies, future trends, epidemics and pandemics, and
other risks which are detailed in the Company’s Securities and
Exchange Commission filings, included in Item 1A of Part I of the
Company’s Annual Report on Form 10-K for the fiscal year ending
December 31, 2022, Exhibit 99.1 attached thereto and in Item 1A of
Part II of the Company’s Quarterly Reports on Form 10-Q. These
risks and uncertainties may cause actual results to differ
materially from those indicated by the forward-looking statements.
All forward-looking statements made herein are based on information
currently available, and the Company assumes no obligation to
update any forward-looking statements.
CONTACT:
Sandy Statzer
Franklin Electric Co., Inc.
InvestorRelations@fele.com
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