nVent Acquires TEXA Industries
11 Julho 2023 - 7:30AM
Business Wire
- Complements nVent’s portfolio to protect critical electrical
systems with expanded industrial air conditioners and chillers
- Enhances nVent’s position with the electrification of
everything in high-growth verticals, such as industrial automation
and energy storage
- Strengthens nVent’s global growth opportunity
nVent Electric plc (NYSE: NVT) (“nVent”), a global leader in
electrical connection and protection solutions, today announced it
has acquired TEXA Industries, which will operate within its
Enclosures business segment.
The acquisition of TEXA Industries and its highly complementary
portfolio strengthens nVent’s position as a global systems
provider. TEXA Industries provides advanced cooling technologies
with innovative industrial air conditioners and chillers to help
customers better solve for increasing heat loads when designing
systems.
“We are excited about the addition of TEXA Industries. Combined
with our expertise in liquid cooling, this acquisition strengthens
nVent’s position and accelerates our ability to provide global
cooling solutions in demanding environments, such as industrial
automation and energy storage,” said Alexander van der Weide, nVent
HOFFMAN General Manager and Vice President.
Based in Italy, TEXA Industries is a leading European provider
of industrial cooling applications, including air conditioners and
chillers, with approximately 90 employees.
ABOUT NVENT
nVent is a leading global provider of electrical connection and
protection solutions. We believe our inventive electrical solutions
enable safer systems and ensure a more secure world. We design,
manufacture, market, install and service high performance products
and solutions that connect and protect some of the world's most
sensitive equipment, buildings and critical processes. We offer a
comprehensive range of enclosures, electrical connections and
fastening and thermal management solutions across industry-leading
brands that are recognized globally for quality, reliability and
innovation. Our principal office is in London and our management
office in the United States is in Minneapolis. Our robust portfolio
of leading electrical product brands dates back more than 100 years
and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and
TRACER. Learn more at www.nvent.com.
nVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER are
trademarks owned or licensed by nVent Services GmbH or its
affiliates.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains statements that we believe to be
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements, other
than statements of historical fact are forward looking statements.
Without limitation, any statements preceded or followed by or that
include the words “targets,” “plans,” “believes,” “expects,”
“intends,” “will,” “likely,” “may,” “anticipates,” “estimates,”
“projects,” “forecasts,” “should,” “would,” “positioned,”
“strategy,” “future,” “are confident,” or words, phrases or terms
of similar substance or the negative thereof, are forward-looking
statements. All statements made about the anticipated acquisition,
the expected financial results of the acquired business and the
anticipated benefits of the acquisition, are forward-looking
statements. These forward-looking statements are not guarantees of
future performance and are subject to risks, uncertainties,
assumptions and other factors, some of which are beyond our
control, which could cause actual results to differ materially from
those expressed or implied by such forward-looking statements.
These factors include our ability to integrate the acquisition
successfully; our ability to retain customers and employees of the
acquired business; adverse effects on our business operations or
financial results, including due to the overall global economic and
business conditions impacting our business; the ability to achieve
the benefits of our restructuring plans; the ability to
successfully identify, finance, complete and integrate
acquisitions; competition and pricing pressures in the markets we
serve, including the impacts of tariffs; volatility in currency
exchange rates, interest rates and commodity prices; inability to
generate savings from excellence in operations initiatives
consisting of lean enterprise, supply management and cash flow
practices; inability to mitigate material and other cost inflation;
risks related to the availability of, and cost inflation in, supply
chain inputs, including labor, raw materials, commodities,
packaging and transportation; increased risks associated with
operating foreign businesses, including risks associated with the
conflict between Russia and Ukraine and related sanctions; the
ability to deliver backlog and win future project work; failure of
markets to accept new product introductions and enhancements; the
impact of changes in laws and regulations, including those that
limit U.S. tax benefits; the impact of the novel coronavirus 2019
("COVID-19") pandemic; the outcome of litigation and governmental
proceedings; and the ability to achieve our long-term strategic
operating goals. Additional information concerning these and other
factors is contained in our filings with the Securities and
Exchange Commission, including our Annual Report on Form 10-K and
our Quarterly Reports on Form 10-Q. All forward-looking statements
speak only as of the date of this press release. nVent assumes no
obligation, and disclaims any obligation, to update the information
contained in this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20230710537074/en/
Investor Contact Tony Riter Vice President, Investor
Relations nVent 763.204.7750 Tony.Riter@nVent.com
Media Contact Stacey Wempen Director, External
Communications nVent 763.204.7857 Stacey.Wempen@nVent.com
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