NORTH ANDOVER, Mass., Oct. 10, 2003 -- Watts Industries Inc. announced it will change its name to Watts Water Technologies Inc.
The renamed Watts Water Technologies will continue to trade on the New York Stock Exchange under the symbol "WTS". The name change will be effective October 15, 2003.
Patrick S. O'Keefe, President and Chief Executive Officer of Watts Water Technologies, Inc., said, "The Watts Water Technologies' name more accurately reflects our strategic focus on providing solutions to our customers' water based needs. We believe that water equipment suppliers have an opportunity to achieve above-average growth characteristics due to the increasing pressure that consumers are facing to assure the safe use of high-quality water. In this respect, Watts Water Technologies is well positioned to respond to these growing needs.
"We have the leading position and the most up-to-date technology in the backflow prevention market. Our temperature and pressure safety relief valve, as well as our water pressure regulator valve, provide us with leading positions in the water safety and conservation markets. Our recently introduced line of Zero Waste Reverse Osmosis Water Filtration System is an example of providing the latest in technology to our customers.
"The name change to Watts Water Technologies embodies our commitment to using leading edge technology to produce products, which will provide our customers with the highest level of water quality, safety, control, conservation and comfort."
