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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. |
