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Brazilian Tigre Group bought pipe fittings producer Dura Plastic

April 15/2021

MOSCOW (MRC) -- Tigre Group, a Brazilian pipe manufacturer, has acquired U.S.-based PVC piping component maker Dura Plastic Products Inc. through its Tigre-USA Inc. business unit, said Canplastics.

The financial terms of the deal have not been disclosed. Dura Plastic is family-owned and has two production units, one in California and the other in Tennessee, and six company-run distribution centres throughout the U.S. �Together, Dura and Tigre are among the largest in the sector in the country,� Tigre officials said in an April 9 news release.

"The acquisition of this company accelerates our goal of serving the market with a high-quality and an even more comprehensive portfolio,� said Vicente Smith Amunategui, executive director of international business at Tigre Group. �Dura Plastic has more than 50 years in the American market, with an impressive track record in building reliable and innovative solutions for the construction and irrigation sectors."

�This type of transaction has always been in the plan,� said Dura Plastic vice president Hardy Rost. �The timing was right, and without further family succession, it was an easy decision when [Tigre] contacted us. It was important for the Rost family to find a strategic alliance, and in our discussions, it became evident that the core principals and business values were the same."

As it was written earlier, Mexico-based PVC pipe and specialty chemicals maker Mexichem SAB de CV is acquiring plastic pipe maker Dura-Line Corporation from private equity firm CHS Capital for USD630 million.

According to MRC"s ScanPlast report, Russia"s overall PVC production reached 259,400 tonnes in the first three months of 2021, down by 3% year on year. All producers reduced their output over the stated period.


mrcplast.com
Author:Anna Larionova
Tags:PVC, EPVC, SPVC, pipe extrusion.
Category:General News
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