Item 2. PROPERTIES

Our principal office is located in leased premises in London, United Kingdom, and our management office in the United States is located in leased premises in Minneapolis, Minnesota. Our operations are conducted in facilities throughout the world. These facilities house manufacturing and distribution operations, as well as sales and marketing, engineering and administrative offices.

We carry out our Water manufacturing operations at 21 plants located throughout the United States and at 27 plants located in 14 other countries. In addition, Water has 33 distribution facilities, 48 sales offices and 11 service centers located in numerous countries throughout the world.

We carry out our Electrical manufacturing operations at 8 plants located throughout the United States and at 13 plants located in 11 other countries. In addition, Electrical has 24 distribution facilities, 53 sales offices and 2 service centers located in numerous countries throughout the world.

We believe that our production facilities are suitable for their purpose and are adequate to support our businesses.