IWG to purchase Keltech product line
July 6, 2011, Burnaby, B.C. - IWG Technologies, Inc. announced today that it has entered into an agreement to acquire the Aviation Water Heater product line of Keltech, Inc. of Delton, Michigan.
“The Keltech line of aviation water heaters is well known throughout the VIP airliner and business jet community,” said David Fox, president & CEO of International Water-Guard Industries and IWG Technologies. “It provides a constant flow of hot water in high flow situations, such as showers and galleys. We have acquired the line to expand our product offerings, and as a first step to growing the business portfolio of IWG Technologies, Inc.,” he added. A brief video may be found at www.water.aero
“It is a win-win situation for all,” said Melody Lutz, Vice President of Keltech. “For us to grow the Aviation Heater product line would have required investments in areas outside our strategic focus, as our core business is in the commercial and industrial market segments. IWG Technologies is ideally suited to maximize the value of this profitable line. Plus, the sales transaction provides the best result for our employees and customers and the proceeds will allow for reinvestment in our business to prepare for future growth.”
The products are complementary in terms of both technology and customers to IWG’s current product portfolio, and will benefit from IWG’s AS9100 quality status and engineering and certification expertise specific to the aviation market. “We see a good opportunity for growth,” says Fox.
“We were very excited knowing that the outstanding team at IWG Technologies would better advance the market development of the Aviation Heater product line, building on the strategies that have made them a preeminent aerospace company,” said Lutz.
Full transition to IWG will take place over the next several months, but customers will be dealing with IWG immediately. Keltech Inc. will continue its focus in non-aviation markets. Functionally, the product line will be run by IWG Technologies subsidiary, International Water-Guard Industries, Inc.