Plastic pipe purchase

Georg Fischer  is to acquire Central Plastics, the North American manufacturer of piping systems for gas and water utilities.

Prior to the acquisition, Georg Fischer has not had a presence in the area in the US, owing to differences in standards between the US and Europe.

Founded in 1955, Shawnee, Oklahoma- based Central Plastics generates sales in excess of $80m and employs more than 500 people worldwide. In addition to its headquarters in Shawnee, the company has production sites and sales offices in Gainesville, Texas, Tianjin, China, Buenos Aires, Argentina, and Wellington, New Zealand.

It manufactures and markets plastic and metal fittings, plus accessories, for piping applications within gas and water utilities as well as the oil industry, primarily in the USA, Canada and South America.

The acquisition is expected to be completed during the first quarter of 2008, subject to regulatory approval by the US Federal Trade Commission. The financial details of the transaction were not disclosed.