Asahi/America announces merger
Asahi/America, a manufacturer of thermoplastic fluid flow systems, announced a merger agreement with Midnight Acquisition Holdings, a wholly owned subsidiary of Asahi Organic Chemicals Industry Co., which is Asahi's principal supplier of valves.
Leslie B. Lewis will remain with Midnight as president and chief executive officer. The merger is contingent upon approval by the company's stockholders and the sale of Quail Piping Products to a management buyout group.
Quail, a wholly owned subsidiary of Asahi/America, manufactures corrugated polyethylene piping systems for water, sewage and drainage projects, as well as fiber-optic-cable duct for the telecommunications industry.