Jan 11 2010
Wolverine Tube, Inc. ("Wolverine") and The Wieland Group ("Wieland") announced the formation of Wolverine/Wieland Heat Transfer Technologies, LLC ("WWHTT"), a joint venture of Wolverine and Wieland which will develop innovative and energy efficient heat transfer technology.
The new company, with facilities in Huntsville, Alabama and Ulm, Germany, is expected to accelerate the pace of heat transfer innovation, reduce the cost of technology development, and increase the competitiveness of our customers' products.
"The heat transfer markets we serve demand constant innovation. WWHTT will develop technologies that allow engineers to create air conditioning and refrigeration systems with higher efficiency, lower end-user operating cost, and reduced refrigerant use," said Harold Karp, President and Chief Operating Officer of Wolverine.
Wolverine and Wieland will license certain heat transfer technologies to WWHTT. WWHTT will develop new heat transfer technologies, processes and products that will be licensed to Wolverine, Wieland and third parties. It is anticipated that WWHTT will make varying distributions to Wolverine and Wieland from royalty income received on commercial licenses of the new technologies based on the type of license, industry, area, and other license terms and conditions.
"The rapidly changing technical requirements of our markets will only be met by an ability to revolutionize heat transfer technology. WWHTT will leverage the heat transfer technology of two world-class companies to create best-in-class solutions for our customers and markets," said Bernd Grasshof, Vice President of Wieland's Tube Division.
Source: http://www.wlv.com/