OMAHA, NE, Jan. 25, 2008 -- Lindsay Corporation, a leading provider of irrigation systems and infrastructure products, announced that it has completed the acquisition of all outstanding shares of stock of Watertronics Inc., based in Hartland, Wisconsin. Watertronics is a leader in designing, manufacturing, and servicing water pumping stations and controls for the golf, landscape and municipal markets.
"Lindsay is pleased to announce the acquisition of Watertronics," stated Rick Parod, Lindsay's president and chief executive officer. "The addition of Watertronics further enhances our capabilities in providing innovative, turn-key solutions to customers through the integration of their proprietary pump station controls and designs."
Parod continued, "I have known, and been impressed with the Watertronics management team for many years. Their more than 20 years of experience in water pumping technology will be invaluable in working with the Lindsay team in developing new technologies, benefiting customers worldwide. Additionally, we believe that Lindsay can expand the Watertronics sales reach, leveraging our global footprint. We are excited to welcome the management team and employees of Watertronics to the Lindsay family. We expect the acquisition to be accretive in fiscal 2008."
Lindsay manufactures and markets irrigation equipment including Zimmatic, Greenfield, Stettyn and Perrot center pivot, lateral move and hose reel irrigation systems and GrowSmart controls, all of which are used by farmers to increase or stabilize crop production while conserving water, energy, and labor.
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