Leading Japanese manufacturer of household water heaters Noritz
Corporation announces the acquisition of Dux Manufacturing Limited, marking
Noritz’s full-scale entry into the Australian water heater market. Noritz
acquired Dux from the GWA Group for $46 million.
Dux is one of Australia’s leading manufacturers of storage-type electric
water heaters, while Noritz specialises in continuous flow gas heaters. Japan
is the world leader in hot water systems and one of the world’s highest users
of hot water; following this acquisition, all major brands in the Australian
market are now Japanese owned.
Dux CEO Simon Terry commented that Noritz has a clear focus on hot
water, producing over two million water heaters annually. He added that Dux
will benefit from Japan’s global leadership in hot water systems.
Soichiro Kokui, President and CEO of Noritz said that they looked
forward to working together with Dux staff and network to achieve further
growth of the Dux business. He added that Noritz will bring a significant
amount of water heating technology, new products and expertise to the Dux
business, helping contribute to a very strong and exciting future.
Dux is headquartered in Moss Vale at the site of its manufacturing
plant, and has plans for new offices in Sydney and Melbourne.