Wavin (Zwolle / The Netherlands; www.wavin.com) is acquiring Turkish plastic pipes and fittings manufacturer Pilsa Plastic (Adana / Turkey; www.pilsa.com.tr) from the Sabanci Holding (www.sabanci.com.tr) for around USD 82m (EUR 55m), subject to adjustments at closing. Philip Houben, Wavin’s CEO, said Pilsa is an important strategic acquisition and “provides Wavin with an excellent opportunity to benefit from the positive economic developments in Turkey and surrounding countries.” Wavin, a leading European supplier of plastic pipe systems, has strong export positions in several central and eastern European countries, he added.

The acquisition will be funded from existing credit facilities and is expected to be completed at the end of 2007 or the beginning of 2008. Wavin said it is in talks with potential partnership candidates that may take a minority stake in the transaction. Pilsa has about 390 employees and is expected to generate revenues of about USD 125m this year. The company sold its much smaller profiles business in 2004 to Deceuninck (Hooglede-Gits / Belgium; www.deceuninck.com) – see Plasteurope.com of 04.11.2004.