Nuplex JV buys Fibrelogic for $A26m
Nuplex has formed a joint venture to buy Australian glass reinforced plastic pipe manufacturing firm Fibrelogic Pipe Systems for $A26 million ($NZ33.6 million).
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Nuplex has formed a joint venture to buy Australian glass reinforced plastic pipe manufacturing firm Fibrelogic Pipe Systems for $A26 million ($NZ33.6 million).
Nuplex chief executive Emery Severin said the joint venture brought together his company's world class resin technologies and processes with the engineering and project management expertise of Australian-based RPC Technologies.
The high quality, technically advanced large diameter pipes manufactured by Fibrelogic were used in water reticulation, infrastructure and mining applications -- all industries with attractive long-term growth prospects in Australia, Mr Severin said.
Nuplex's composites business would benefit from a long-term supply agreement with the joint venture.
Nuplex expected its share of the joint venture would make a small positive contribution to its 2012 financial year earnings per share.
NZPA
Fri, 24 Jun 2011
Fri, 24 Jun 2011
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Nuplex JV buys Fibrelogic for $A26m
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