German pipe systems producer Egeplast (Greven; www.egeplast.de) has bought a 75% stake in Swedish polyethylene pipe manufacturer Extena (Norsjö; www.extena.se) for an undisclosed sum. With a workforce of around 40, Extena generated sales of approximately EUR 17m in 2019. The Swedish company’s previous majority shareholder, family-owned investment firm Treac (Skellefteå / Sweden; www.treac.se), will retain a 25% stake, while Extena’s managing director Peter Falk will remain in the role.

Egeplast said the acquisition, which due to the ongoing coronavirus pandemic was completed via video conference, would boost its business across Scandinavia. Unlike other European countries, Sweden has yet to lock down its citizens, although there have been increasing calls for restrictions on people’s movements and economic activity as the country’s death toll from Covid-19 rises. Sweden has nearly 6,500 confirmed cases of coronavirus and more than 370 deaths. Germany, which has imposed limited movement, has had over 1,300 deaths from nearly 92,000 confirmed cases.

In a statement, Extena said it was still business as usual. “At present, we do not see any impact on our production or delivery capacity. Production as well as imports and exports are normal, and we are taking the necessary measures to protect both our staff and the transporters who visit us.”