Ariston Thermo acquiring NTI
September 14, 2016 by Manufacturing AUTOMATION
Sept. 13, 2016 – Ariston Thermo is entering the North American market with its recent acquisition of NY Thermal, a global provider of boilers for domestic and commercial use with its brand NTI.
With more than 40 years of service in North America, NTI offers a range of wall-hung gas condensing boilers as well as a selection of floor-standing gas boilers and oil boilers. NTI is headquartered in Saint John, N.B., and employs about 120 people and owns two production plants.
“The goal of Ariston Thermo is to continue its growing path,” said Paolo Merloni, executive chairman of Ariston Thermo. “The expertise and the positioning of NTI — as well as the quality of its management and of its people — make the company a true benchmark for the market in the Canada and U.S. and allow us to enter the North American market and to develop important projects common to the whole Group. All this being consistent with our strategic prospects of increasingly becoming leading players in the field of high-efficiency solutions and renewable energy systems.”