Monday, June 15, 2009

Rinnai Corporation Invests $10 Million Capital in U.S. Growth

(BUSINESS WIRE)--Rinnai Corporation, the world’s leader in gas appliance manufacturing, announced today that the company will make a $10 million capital investment into their North American subsidiary, Rinnai America Corporation (RAC). This investment represents Rinnai Japan’s ongoing commitment to the North American market and will help fund RAC’s continued dynamic growth. RAC, which has experienced double-digit growth in recent years, continues to be the market leader in tankless water heaters in North America and foresees abundant future growth opportunities.

Rinnai America Corporation, a subsidiary of Rinnai Corporation in Nagoya, Japan, was established in 1974 and is headquartered in Peachtree City, Ga.

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