Watts Water Technologies announced that it signed a letter of intent with Changsha Valve Factory to purchase Changsha Valve Factory and its business. Changsha valve factory is a manufacturer of large-diameter butterfly valve drive manufacturers. The plant's products are mainly used in thermal power plants, hydropower plants, water supply and water projects. Watts Water Technology's acquisition of Changsha Valve Factory is expected to be completed by the end of January 2006. The ultimate success of the acquisition depends on a variety of conditions, including local government, the central government approved the acquisition of this project, and Watts in China to establish wholly foreign-owned new company and operational qualification.
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