Mexico. Rinnai America Corporation, a manufacturer of tankless water heaters, announced the purchase of Industrias MASS, the manufacturer of commercial water heaters for the Mexican market. This is the first purchase of Rinnai America Corporation and is in line with the Strategic Development Initiative they announced a few months ago.
This initiative is designed to accelerate the company's presence in the region through acquisitions and alliances.
Founded in 1964, MASS Industries has approximately one-third of the market share in the commercial segment. With a plant of more than 8,000 square meters and more than one hundred employees throughout the country, MASS Industries also specializes in the production of water treatment systems and in the manufacture of commercial water tanks that integrate advanced technology, locally produced materials and an excellent service network. Its clients include healthcare companies, hotels, restaurants and other industries that are served from its offices in Mexico City, Leon, Merida, Monterrey, Guadalajara and Mazatlan.
"The purchase of Mass Industries is a critical step in our commitment to the Latin American market," said Frank Windsor, president of Rinnai America Corporation. Our goal is to build on the success of MASS Industries and continue to invest in the company, its people and its products, as a platform for growth. Through our shared commitment to innovation, as well as our complementary product lines, we will drive growth while delivering on our brand promise to create a healthier way to live®."
This strategic acquisition will allow Rinnai America Corporation to establish its local presence in Mexico to produce and distribute its products, through this alliance. MASS Industries' complementary lines include products that Rinnai has not historically offered in the Americas, such as water treatment systems, which will allow the company to expand its footprint and offer a broader product portfolio.
In addition, as part of its commitment to success in the region, Rinnai America Corporation has appointed Victor Molgado as the General Manager of Mexico. Molgado has over twenty-five years of experience in local, regional and international manufacturing operations. His last position was as General Manager of a plant for a major manufacturing business alliance in Mexico.
"I am very excited about this opportunity to accelerate Rinnai's expansion in Mexico with Industrias MASS," said Molgado. "The combination of MASS Industries' market dominance with Rinnai's technology and global leadership will allow us to maximize the potential of the Mexican market and is the logical choice to accelerate the company's growth strategy in Latin America."
"The expertise of the MASS Industries team, as well as the leadership Victor will provide at the plant, are essential parts of our strategy to take advantage of the opportunities that are growing in the market," added Frank Windsor.
Through this acquisition, Rinnai America Corporation will extend its presence in Latin America, building on the success of its factory in Brazil. The company also plans to advance the region with a combination of organic growth, investment and new partnerships to gain dominance in the commercial water heater market.
