WAVIN
Plans for takeover of HBP from Vaillant / Due diligence in progress / Brand names to be kept
Leading plastic pipe systems supplier Wavin (NL-8000 AD Zwolle; www.wavin.com) is in negotiations with heating technology company Vaillant (D-42859 Remscheid; www.vaillant.com) on the acquisition of Vaillant subsidiary Hepworth Building Products (HBP, GB-Sheffield; www.hepbp.demon.co.uk). The transaction is currently subject to due diligence and approval by the relevant competition authorities and supervisory boards.
Wavin intends to keep the HBP brands strictly separate from its own. The company, which produces plastic, clay and concrete pipe systems for use in plumbing and in the above and below-ground drainage sector, employs more than 1,700 people and has annual sales of around EUR 226m. Alongside the HBP headquarters at Sheffield / UK, the company has further production and marketing facilities in the UK, continental Europe and Asia. Vaillant took over HBP at the start of 2001 following its acquisition of Hepworth (GB-London). At the time, the heating company declined comment on its plans for the division, which was not seen as a good fit with its core business activities.
Wavin intends to keep the HBP brands strictly separate from its own. The company, which produces plastic, clay and concrete pipe systems for use in plumbing and in the above and below-ground drainage sector, employs more than 1,700 people and has annual sales of around EUR 226m. Alongside the HBP headquarters at Sheffield / UK, the company has further production and marketing facilities in the UK, continental Europe and Asia. Vaillant took over HBP at the start of 2001 following its acquisition of Hepworth (GB-London). At the time, the heating company declined comment on its plans for the division, which was not seen as a good fit with its core business activities.
13.01.2005 Plasteurope.com [201849]
Published on 13.01.2005
German version of this article...