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GWT Cites Independent Report Forecasting Worldwide Industrial Cooling Tower Market Will Grow to $3.6 Billion by 2006
Global Water Technologies, Inc. (GWT), a full-service cooling water treatment company utilizing advanced technologies and engineered solutions to provide process cooling water to power plants, process industries and municipalities, worldwide, announced that The McIlvaine Co., Northbrook, Ill., recently published a 2,000 page report, forecasting that worldwide industrial cooling tower sales will exceed $3.6 billion in 2006, which is a 20 percent increase over 2001.
According to the McIlvaine report, other areas showing growth include the cooling water treatment market, which is a direct result of new water cooling tower installations.
Commenting on the report, George Kast, chairman and CEO stated: "The McIlvaine report confirms our projections for growth in the cooling tower markets. Our Psychrometric Systems, Inc. (PSI) subsidiary, which was mentioned in the report as a major supplier in this market, is well positioned to take advantage of this growing segment. A growing demand for water cooling towers will also provide additional opportunities for our Applied Water Technologies, Inc. (AWT) subsidiary which provides an environmentally sound cooling water treatment service program."