Nuplex JV buys Fibrelogic for A$26m

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.

NZPA

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Seeka Provides the Results of Meeting - ASM
April 19th Morning Report
PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER
Devon Funds Morning Note - 17 April 2024
Consultation opens on a digital currency for New Zealand