GF PIPING SYSTEMS
Acquisition of a stake in Urecon in Canada / Takeover of commercial and operative management
 Piping system with PU insulation (Photo: GF) |
GF Piping Systems has acquired 49% of the shares, for an undisclosed sum, in Urecon (Coteau-du-Lac, Quebec / Canada; www.urecon.com), a specialist for pre-insulated pipe systems for freeze prevention and centrally chilled water. The pipe division of Georg Fischer (GF, Schaffhausen / Switzerland; www.georgfischer.com) is also taking over commercial and operative management of the Canadian company, which pre-insulates pipes using rigid PU foams.
In addition, it was agreed upon that GF would acquire the remaining shares in 24 months, at the earliest, after completion of the transaction. With this acquisition, GF Piping Systems is strengthening its presence in North America and accelerating the introduction of its pre-insulated piping systems for cooling and air conditioning.
Urecon was founded in 1969 and generated revenues of about CAD 27m (EUR 18.4m) in 2016. The company has about 100 employees and two production sites in Canada at Coteau-du-Lac and Calmar, Alberta.
In addition, it was agreed upon that GF would acquire the remaining shares in 24 months, at the earliest, after completion of the transaction. With this acquisition, GF Piping Systems is strengthening its presence in North America and accelerating the introduction of its pre-insulated piping systems for cooling and air conditioning.
Urecon was founded in 1969 and generated revenues of about CAD 27m (EUR 18.4m) in 2016. The company has about 100 employees and two production sites in Canada at Coteau-du-Lac and Calmar, Alberta.
24.08.2017 Plasteurope.com [237700-0]
Published on 24.08.2017
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