AUSTRALIA: Southcorp remains confident of water heaters sale

By Tony Baker | 25 September 2001

Despite global markets turmoil, Australia's Southcorp is on schedule to become a wholly wine producing company by selling its water heating operation, the business daily Financial Review reported. AO Smith Corp, of the US, one of the main bidders, has dropped out following another purchase leaving the Japanese company Paloma as the front runner.

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Despite global markets turmoil, Australia's Southcorp is on schedule to become a wholly wine producing company by selling its water heating operation, the business daily Financial Review reported. AO Smith Corp, of the US, one of the main bidders, has dropped out following another purchase leaving the Japanese company Paloma as the front runner.

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