Georg Fischer is to form a joint venture with German-based Simona for the manufacture of pipes and moulded components made from fluorplastics.
Georg Fischer already has a 15% stake in Simona.
The production facility for the 50:50 joint venture will be based at the existing Simona plant at Ettenheim in Baden-WÃ¼rttemberg and will start operations as an independent company on 1st July 2002, subject to the approval of the antitrust authorities.
As a result, Simona will cease marketing its ‘Pureplus’ piping components.
Simona sales in 2001 totalled over 177 million Euros. Georg Fischer’s Piping Systems Group posted sales of 575 million Euros in the same year.