25 May 2010

Methven looking to new patent for expansion

12:23 pm on 25 May 2010

Methven hopes a new patented technology will help it expand further in the international hotel market.

The listed tapware maker has acquired an exclusive licence for Jemflo - a Australian-designed valve system that balances water temperature and pressure.

Chief executive Rick Fala won't reveal how much the company paid for the license, but says Methven has the rights to buy Jemflo's patents at a later date.

He says Methven will use the system with its Satinjet showerware and target sales to international hotels in Asia.

Shares in Methven were unchanged at $1.58 on Tuesday.