Granby Industries L.P. announces the acquisition of Pensotti NA

Granby, June 15, 2011 – Granby Industries and Pensotti North America have announced today that they have entered into an agreement whereby Granby Industries will purchase all of Pensotti North America assets. The integration of Pensotti (now known as Pensotti, LLC) with Granby will be seamless; manufacturing, sales and customer service will remain intact in Brewer, ME under the guidance of Steve Cole.

Granby’s strategic plan concentrates on the growth of its main sector of activity – heating oil in North America – to create more value for its customers. “Granby’s quality products, experience and solid reputation in the heating oil industry coupled with that of Pensotti will deliver an unparalleled offering to the marketplace,” says Steve Cole, President of Pensotti North America.

“The combination of Granby’s steel tanks, accessories and high efficiency oil fired furnaces with Pensotti’s high efficiency boilers, panel radiation and condensing wall-hung gas fired boilers will allow our customers to have access to an unequalled range of products. Our comprehensive offering and attention to cutting edge technology will compliment the challenges faced by our oil industry partners – the oil dealer/installer” comments Pierre Fournier, President of Granby Industries.

About Pensotti North America

Pensotti heating products have been keeping the northeast warm since the 1970's and have earned the reputation as one of America's best heating values. They offer a complete line of Energy Star rated, 3-pass cast iron boilers ranging in size from 83,000 – 222,000 Btu’s. Also offered by Pensotti are a complete line of panel radiators and high-efficiency wall-hung gas fired boilers. For more information, visitwww.pensottiboiler.com.