Future Pipe Industries (FPIG, Dubai / United Arab Emirates; www.futurepipe.com) has acquired fibreglass-reinforced pipe producer Specialty Plastics (SPI, Baton Rouge, Louisiana / USA) from ITT Exelis (McLean, Virginia / USA; www.exelisinc.com). FPIG said the acquisition of SPI, a leading supplier of fibreglass pipes and systems for offshore platforms and marine vessels, is a strategic addition to its composite pipe business.

Fouad Makhzoumi, chairman and CEO at FPIG, said: “We are excited about this new opportunity. The acquisition is a strategic fit to FPIG that will complement its product offerings, geographical reach and customer sectors...particularly in the Americas, and continue to strengthen FPIG as a leading global provider of composite pipe systems.”