Acuity Brands Announces Sale Of National Chemical
ATLANTA, Nov. 4 /PRNewswire-FirstCall/ -- Acuity Brands, Inc. announced today
that it has sold its National Chemical product line to Cascade Water Services,
headquartered in New York. Prior to this sale, National Chemical was a part of
Acuity Specialty Products (ASP), a business segment of Acuity Brands, which
includes leading brands such as Zep(R), Enforcer(R), and Selig Industries(TM).
Cascade owns and operates water treatment facilities throughout the United
States.
National Chemical manufactures specialty chemical products and provides services
for boilers, cooling towers, and wastewater applications throughout North
America. National Chemical represents an immaterial portion of the consolidated
net sales and operating profit of Acuity Brands.
James H. Heagle, President and Chief Executive Officer of Acuity Specialty
Products, said, "This sale by ASP reflects our commitment to better focus our
resources and efforts primarily on customers in our core specialty chemical and
retail business units. We want to maximize our opportunities in these two areas
by continuing to bring more innovative and cost effective solutions to markets
where we have leadership positions. We are pleased to transfer this business to
Cascade, affording the employees of National Chemical an opportunity to develop
their careers in a company more focused on water treatment." Acuity Brands, Inc., with fiscal year 2003 net sales of approximately $2.0
billion, is comprised of Acuity Brands Lighting and Acuity Specialty Products.
Acuity Brands Lighting is a world leader in lighting fixtures and includes
brands such as Lithonia Lighting(R), Holophane(R), Peerless(R), Hydrel(R), and
American Electric Lighting(R). Acuity Specialty Products is a leading provider
of specialty chemicals and includes brands such as Zep(R), Enforcer(R), and
Selig Industries(TM). Headquartered in Atlanta, Georgia, Acuity Brands employs
approximately 11,400 people and has operations throughout North America and in
Europe and Asia. DATASOURCE: Acuity Brands, Inc.
CONTACT: Karen Holcom of Acuity Brands, Inc., +1-404-853-1437 Web site: http://www.acuitybrands.com/
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