Pipelife reinforces product portfolio in fast-growing market, broadens geographical scope
Solvay announces today that Pipelife, its 50/50 joint venture with Wienerberger, has acquired Ireland’s Quality Plastics, a leading manufacturer of specialty pipes and fittings with a strong focus on so-called ‘Hot & Cold’ applications.
Hot & Cold water systems for plumbing and heating are sophisticated products processed from speciality polymers and complex compounds - which makes them suitable for the replacement of metal in many applications, while ensuring a high level of safety and effortless installation. They are the fastest-growing segment of the pipes and fittings market in Europe.
Quality Plastics produces and sells Cross-Linked Polyethylene (PEX), PEX multi layer Pipes, Polyethylene (PE) and Polybutylene (PB) Pipes, including a wide range of fittings and accessories. It operates two factories near Cork in Ireland achieving sales of EUR 42 million with 174 employees in the latest business year. Quality Plastics is also present in the United Kingdom through an own outlet and sales organization and exports its products to several countries in Europe.
Pipelife intends to capitalize on this acquisition and on its own extensive network to serve clients with these products and technologies throughout Europe. Miguel Kohlmann, the CEO of Pipelife commented on the acquisition: “Quality Plastics is a perfect complement for the Pipelife Group. It will reinforce one of Pipelife’s fastest growing product lines - which is Hot & Cold - in addition to giving the group access to the Irish and UK markets”.
“Solvay is confident that through its ambitious expansion plans, Pipelife will contribute effectively to the Group’s sustainable and profitable growth,” added Dominique Clerbois, Solvay’s alliance manager for Pipelife.
The PIPELIFE GROUP is a joint venture between Wienerberger of Austria and Solvay. It is one of the world’s leading Plastic Pipes and Fittings groups. It is now active in 29 countries and operates 30 factories with 2.800 employees achieving pro-forma sales of 823mEUR in 2006.
SOLVAY is an international chemical and pharmaceutical Group with headquarters in Brussels. It employs some 29,000 people in 50 countries. In 2006, its consolidated sales amounted to EUR 9.4 billion, generated by its three sectors of activity: Chemicals, Plastics and Pharmaceuticals. Solvay (Euronext : SOLB.BE - Bloomberg: SOLB.BB - Reuters: SOLBt.BR) is listed on the Euronext stock exchange in Brussels. Details are available at www.solvay.com
