Glen Dimplex to expand in Japan and UK
(November 2004)
Halstead Boilers Limited
Glen Dimplex Group has acquired Halstead Boilers Limited, a UK based manufacturer of Gas Domestic Central Heating Boilers. Founded in 1990, Halstead has a turnover of €30 million, 120 employees and is located at Halstead in Essex. Messers Brian Day and Andrew Marshall the founding Shareholders will continue in their current roles as Joint Managing Directors.
The UK market for Gas Domestic Central Heating Boilers is 1.6 million units per annum, with Halstead having a 5% market share.
As part of its commitment to meeting the targets set out in the Kyoto agreement, the UK Government is introducing new building regulations from 1 April 2005. From that date 95% of all gas domestic central heating boilers installed in the UK must be condensing boilers. The current market share for condensing boilers is 25%. Condensing boilers are approximately 30% more energy efficient than the standard combination boilers.
Glen Dimplex Japan
Glen Dimplex Group has set up a Joint Venture Company in Japan – Glen Dimplex Japan. The Groups partner is Globally Incorporated, a subsidiary of one of Japan’s largest House Building Groups, Matsumoto Kenko.
Glen Dimplex Japan will market and distribute the Groups Electric Heating and Optiflame® Electric Fire product range in a market where 1.2 million new homes are constructed each year.
For further information please contact Sean O’Driscoll, Group Chief Executive at the Glen Dimplex Dublin office (01) 2838277.
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