- NTI is a leading brand in the North American hydronic condensing heating market
- The Company, based in Canada, employs around 120 people with two plants in the area and represents one of the more dynamic realities in the industry in Canada and USA
- In 2015, NTI recorded a turnover of 42 million Canadian dollars, confirming the trend of strong and constant growth of the last five years (at an annual average rate of over 20%)
Fabriano, 10th September 2016 – Ariston Thermo Group, one of the world leading companies in heating and water heating, acquired a majority stake in NY Thermal Inc., leading company in Canada and among the leaders in the USA in the market of boilers for both domestic and commercial use with its brand NTI.
With over 40 years of history and a well-established presence both in Canada and in the USA, NTI offers a range of high efficient products mainly composed by wall-hung gas condensing boilers and completed by a selection of floor-standing gas boilers and oil boilers. The Company enjoys a distinctive positioning supported by a well-recognised brand and a strong reputation in terms of quality and reliability of its products and services developed over the years.
The Company has been developed by Kevin Dennison who will remain in the Company both as shareholder and CEO with the aim of managing and continue to grow the Company in line with the Group’s business strategies.
NTI is headquartered at Saint John in Canada, in the Eastern province of New Brunswick, where it employs around 120 people and owns two productive plants. The Company represents one of the more dynamic realities in the industry recording a significant and constant growth at an annual average rate of 20% during the last five years. In 2015, NTI reached a turnover of 42 million Canadian dollars (around 30 million Euros), experiencing a strong increase compared to the previous year.
With the acquisition of NTI, Ariston Thermo enters the North-American market with the goal of strengthening its leadership in the global heating and water heating and energy efficiency industry and of continuing along its growth path.