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TWST: What is WFI Industries?
Mr. Ritchey: WFI Industries is a company traded on the Toronto Stock
Exchange that is the industry's leading manufacturer of geothermal
heating and air conditioning equipment. We have two operating companies.
WaterFurnace builds, manufactures, sells and markets geothermal
equipment. Our second company is LoopMaster International, which is a
contracting firm that puts the loops in the ground that absorb or give
off the energy to heat and cool buildings. TWST: What is the industry makeup today?
Mr. Ritchey: The watersource heatpump market is a 160,000 unit per year
industry. The 160,000 units equate to a manufacturer selling price of a
$320 million industry. Of that, we participate primarily in the
geothermal portion, which is about 60,000 units and about $180 million
in annual sales. The primary competitors in the market would be Climate
Master, which is a division of LSB Industries, a company traded on the
American Stock Exchange; The Trane Company, which is a division of
American Standard; Florida Heat Pump, which is a private company; and
McQuay International a division of HNI Corp. (NYSE). There are also
small regional players that we compete against. We are the largest
market shareholder in the residential single-family portion of the
market; we have roughly 40% market share in that market niche.
Tickers included in this excerpt: WFI:TSX
For more information call (212) 952 7433. The
Wall Street Transcript does not endorse any of the comments made by interviewees, and does
not make stock recommendations.
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