ALIAXIS
Belgian pipe maker buys Valencia Pipe ops
The wrangling over a possible takeover of Uponor (Vantaa, Finland; www.uponorgroup.com) is still in full swing, but bidder Aliaxis (Brussels; www.aliaxis.com) has already announced an expansion in a completely different direction. The pipe manufacturer said it has offered USD 250 mn (EUR 231 mn) to acquire the processing division of its US competitor Valencia Pipe (Valencia, California; www.valenciapipe.com). Both sides have signed a corresponding purchase agreement.
 Changing hands: US pipe manufacturer Valencia Pipe (Photo: Aliaxis) |
Related: Aliaxis acquires Italian pipe manufacturer Lareter
The deal strengthens the Belgian company’s activities in the western US. Aliaxis is set to obtain two production facilities for polyethylene, PVC, and ABS pipes and fittings in Kingman, Arizona, and Walla Walla, Washington, and a distribution centre in Valencia.
Alex Mestres, head of the Americas business, said the sites will be affiliated with Canadian subsidiary Ipex (Oakville, Ontario; www.ipexna.com). The deal, which still has to be approved by regulatory authorities, is expected to close in the coming weeks.
26.05.2023 Plasteurope.com [252823-0]
Published on 26.05.2023
German version of this article...