Watts Water Technologies Inc. has announced the signing of a definitive agreement to acquire the assets and business of Changsha Valve Works located in Changsha, China. Changsha Valve Works is a manufacturer of large diameter hydraulic actuated butterfly valves for thermo-power and hydro-power plants, water distribution projects and water works projects in China. The acquisition of Changsha Valve Works is expected to close by the end of January 2006. The acquisition is subject to various closing conditions, including the approval of the government of China and certain local government approvals and the establishment and licensing of a new wholly foreign owned enterprise by Watts.
