Future Pipe Industries (FPIG, Dubai / United Arab Emirates; www.futurepipe.com) has acquired Spanish fibreglass-reinforced pipe (GRP) producer, Protecciones Plasticas (Protesa, Barcelona; www.protesapipes.com). FPIG said the acquisition was a major strategic addition to its composite pipe business and boosts its offering in the water, desalination, industrial and infrastructure sectors in Europe, Northwest Africa and Latin America. Protesa, which has 285 employees and carries out large-scale projects around the world, has facilities in Pune / India, and Jorf Lasfar / Morocco. Financial details of the acquisition were not disclosed.

Fouad Makhzoumi, chairman and CEO of FPIG, commented: “This acquisition marks an important step in our strategy to diversify outside our core market in the GCC. The acquisition of Protesa continues our strategy of organic growth coupled with the acquisition of other complementary businesses which enable us to extend our global reach.” In April, FPIG purchased US GRP business, Specialty Plastics (Baton Rouge, Louisianna; www.fiberbond.com), – see Plasteurope.com of 12.04.2013.