Wavin BV (NL-8000 AD Zwolle; www.wavin.com), one of the largest European plastic pipes producers, has taken over Oy Labko Ab (FIN-36240 Kangasala; www.labko.fi). Labko produces tanks for sewage and waste water treatment, oil and grease separators as well as the corresponding tank fuel gauging devices and software. In 2002, the company with 110 employees had a turnover of about EUR 17m. Labko will become part of Nordisk Wavin A/S (DK-8450 Hammel; www.wavin.dk), a Wavin subsidiary. Antero Virtanen will continue as managing director of Labko, and the number of employees will remain unchanged.

Only a few weeks ago, the group opened a new production site for fittings for sanitary and heating applications at the headquarters of Wavin GmbH (D-49767 Twist; www.wavin.de). These fittings are made from the high-performance plastic PPSU and were formerly supplied from the US. The investment of EUR 3.5m created 26 new jobs.

According to the company´s annual report for 2002, the Wavin group stabilised its market position despite slightly declining profits. Although acquisitions, joint ventures and new products increased the group´s turnover from EUR 901m to EUR 922m, the economic slump in the construction sector reduced the operating result from EUR 67m to EUR 60m, net profits sank from EUR 37m to EUR 36m. At the end of 2002, the group had 4,765 employees, 233 more than the previous year. For 2003, Wavin expects additional growth from the development of pipe systems for hot and cold water applications, from the telecommunications sector and from the rain water recovery market.