Waterco (WAT)

Shares / Stock Code

WAT

Stock Exchange / Sharemarket

Australian Securities Exchange

Waterco commenced business in 1981 in Sydney, Australia as a distributor of PVC pipes and fittings. Since then, through a series of acquisitions as well as internal growth, the company has expanded into manufacturing and distribution of an extensive range of pool and spa products as well as water treatment equipment.

Waterco currently has an annual revenue of $95m and employs approximately 650 people around the world. Waterco has branches operating in Australia, New Zealand, Malaysia, Indonesia, China, the United Kingdom, United States of America, Canada and Indonesia.

Manufacturing power house

Waterco’s success has been driven by its pioneering fibreglass and plastic moulding techniques, as well as its efficient manufacturing processes, enabling the company to deliver high quality products at exceptional value. Waterco’s R & D division has lead to the development of innovative products, meeting the challenge of changes in the market place.

Waterco History

Waterco Limited commenced trading in 1981 under the name of Dronaco Pty Ltd, as a distributor of PVC pipe and fittings to swimming pool and spa industry. Waterco’s CEO Soon Sinn Goh quickly indentified other market niches and began expanding the company’s activities into the manufacture and distribution of swimming pool and spa equipment.

By 1987 Waterco had developed a clear identity in the swimming pool and water treatment industries, thus a name change was implemented to better reflect the future direction of the company.

In Oct 1986 Waterco expanded into Solar heating with the acquisition of Zane Solar systems. Zane solar has been established since 1974, its solar systems capture the sun’s natural energy to heat the swimming pool.

In June 1987 the next step was to expand his product line by distributing valves and swimming pool filters. Soon Sinn Goh obtained the distribution rights for Sta-Rite pumps and Lacron filters from Weir engineering.

As the company grew, it evolved from a distributor to a manufacturer. In order to represent the product range related to water filtration, in June 1987 Soon Sinn changed Dronaco’s name to Waterco Pty Ltd.

In March 1989 Waterco became a public listed company on the Australian Stock Exchange. The issue was over-subscribed by 300,000 shares. By November 2000 Waterco Limited is listed 69th on the Deloitte Fast 100 Growth Index for 2000.

In September 2000 Waterco acquired the Watercare Division of Asia Pacific Chemicals Limited. Waterco’s Chemical division is Australia’s largest supplier of dry chlorine. In December 2002 TUV Rheinland Certificates were awarded after assessing Waterco’s pumps. TUV Rheinland is an authorized testing organization respected worldwide for its strict evaluation criteria and high technical standards.

In April 2003 Waterco acquired Lacron Limited, Britain’s largest and most progressive manufacturer of pressure sand filters. Lacron’s acquisition is part of Waterco’s strategic maneuver into the European market.

In March 2005 Waterco acquired Focus Temp, a Canadian based manufacturer of high energy-efficient swimming pool heat pumps. The acquisition of this business came with a dominant market share in Canada, and a growing presence in both the United States and international markets.

In March 2005 Waterco Acquired Baker Hydro, Augusta, Georgia business assets. Baker Hydro has more than 50 year’s experience in filtration and water treatment, and has a strong international presence. This enhanced Waterco’s distribution on the East Coast.

Today, Waterco exports to over 40 countries and has branches operating in Australia, New Zealand, Malaysia, Indonesia, China, the United Kingdom, United States of America, Canada and Indonesia. Major competitors would be other spa and pool businesses providing same services to the general public through its shops or on-line. Customers include residential pool and spa owners, public pool operators, aquaculture operators and environmental managers.

Waterco (WAT) Products and Services

  • Manufacture, wholesale, export, retail of swimming pool equipment and accessories

Waterco (WAT) Locations and Subsidiaries

Waterco Head Office
36 South Street,
RYDALMERE, NSW 2116
Phone: (02) 9898 8600
Fax: (02) 9898 1877

Waterco (WAT) Share Price

Submitted by ASX Listed Company on 14 April, 2010 - 23:20

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