NIBE Acquires the Operations of Hotwatt Inc. in USA
Since 1952, Hotwatt´s manufacturing facilities in Danvers, Massachusetts have produced highly engineered heating solutions for the Heating, Ventilation & Air Conditioning market as well as for the Medical Device, Analytical Equipment and other Industrial markets. Hotwatt´s electric heating product range consists of cartridge, band, strip and ceramic heaters, including its “Superwatt” high density cartridge heater which is well known for its high reliability and performance.
Hotwatt´s operations include 115 employees and report sales of 9.0 MUSD with a break-even operating margin which is expected to improve to NIBE´s targeted profitability... Read More About This