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New products and market share gains were also components of Pac-Fab's growth in 1998. Pac-Fab's new 100,000 BTU MiniMaxTM pool and spa heater and the AquaNeonTM series of fiber optic lighting products were new breakthroughs in the residential above-ground pool market. Similarly, the commercial business saw the introduction of the up to 900,000 BTU MiniMaxTM heaters and two series of composite commercial pumps. Positive reaction to these products indicates they will be significant contributors in the coming years. Market share gains were experienced in most of the regional U.S. markets, due in large measure to our customer focus, strong sales teams and innovative products. The most significant of these gains belongs to Pac-Fab's automatic pool control business, whose sales increased by more than 20% in 1998. |
