Friday 24th June 2011
|Text too small?|
Nuplex has formed a joint venture to buy Australian glass reinforced plastic pipe manufacturing firm Fibrelogic Pipe Systems for A$26 million (NZ$33.6 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, 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.
No comments yet
Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto
19th October 2021 Morning Report
PGG Wrightson Limited (NZX: PGW) Guidance Update
Vital Limited (NZX: VTL) Provides Update on PSN LMR
18th October 2021 Morning Report