GF PIPING SYSTEMS
Pipe manufacturer acquires US service provider for cruise ship refits
GF Piping Systems (www.gfps.com), a segment of Georg Fischer (GF, Schaffhausen / Switzerland; www.georgfischer.com), has acquired US distributor and service provider for marine pipe applications Global Supply (Hallandale, Florida; www.gscusa.com). The parties have agreed not to disclose financial details.

Global Supply specialises in retrofitting cruise ships with plastic and metal pipes. Use is also made of GF Piping Systemsí products from for this purpose. The US company was founded 40 years ago and currently employs 20 people. Company founder and president Charles Gualdoni intends to go into retirement after a transitional phase following the acquisition.

For GF Piping Systems, the acquisition will strengthen its US marine segment, where the Swiss company expects high growth rates over the next few years. The acquisition constitutes progress in technical and logistical terms in particular, says the pipe manufacturer.

Over the past fiscal year, Georg Fischerís pipe segment has enjoyed pronounced growth in the Americas, where sales have increased by 17%. GF Piping Systemsí revenue rose 9% in fiscal 2018 to CHF 1.82 bn (EUR 1.6 bn). EBITDA was up 10% at CHF 217m.
20.08.2019 Plasteurope.com [243125-0]
Published on 20.08.2019
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