ALIAXIS
Acquisition of fittings producer Harco to widen US presence, pipe product portfolio
The US pipe producer based in Lynchburg, Virginia, is now part of Aliaxis (Photo: Harco)
Plastic pipe producer Aliaxis (Brussels; www.aliaxis.com) signed an agreement to buy gasketed fittings maker Harco (Lynchburg, Virginia, USA; www.harcoindustries.com) in a deal aimed at broadening its product portfolio and US presence. The transaction is subject to regulatory approval, and financial details of the deal have not been disclosed.

Aliaxis said the purchase is part of its “Growth with Purpose” strategy, unveiled in October 2021, to boost revenues and profits through organic growth and acquisitions. The deal also comes after it completed an EUR 1.6 bn refinancing in the same month to partly fund potential future acquisitions.

Harco, with 55 years of industry experience, reported revenues of USD 75 mn (EUR 65 mn) in 2021, and has clients from the municipal, irrigation, and agriculture end markets. Harco will be part of Ipex (Oakville, Ontario, Canada; www.ipexna.com), Aliaxis’ leading brand in the region.

The Belgian pipe producer has offices on all continents, employs more than 14,000 people worldwide, and reported sales of EUR 2.9 bn in 2020. In North America, the company is already present in the states of California, Colorado, Idaho, Kansas, Kentucky, Michigan, North Carolina, Texas, and Utah through Ipex.
26.01.2022 Plasteurope.com [249447-0]
Published on 26.01.2022
Aliaxis: Kunststoffrohrkonzern expandiert in den USAGerman version of this article...

© 2001-2024 Plasteurope.com  |  Imprint  |  Privacy  |  Cookie settings

Plasteurope.com is a business information platform for the European plastics industry. It is part of KI Kunststoff Information and PIE Plastics Information Europe, one of the leading content providers for the European plastics industry. We offer daily updated business news and reports, in-depth market analysis, polymer prices and other services for the international plastics industry, including a suppliers guide, career opportunities, a trade name directory and videos.

News | Polymer Prices | Material Databases | Plastics Exchange | Suppliers Guide | Jobs | Register | Advertising

PIE – Plastics Information Europe | KI – Kunststoff Information | KunststoffWeb | Plastics Material Exchange | Polyglobe | K-Profi
© 2001-2024 by Plasteurope.com, Bad Homburg
Date of print: 18.07.2024 07:42:59   (Ref: 62469476)
Text and images are subject to copyright and other laws for protection of intellectual property.
Any duplication or distribution in any media as a whole or in parts requires prior written approval by Plasteurope. URL: http://www.plasteurope.com/news/detail.asp