Georg Fischer will acquire Harvel Plastics Inc., a leading supplier in the North American market for industrial PVC and CPVC pipe.
Georg Fischerannounced that it has agreed to acquire
Harvel Plastics Inc., a leading supplier in the North American market for industrial
PVC and CPVC pipe. This agreement furthers GF Piping Systems business
worldwide, which involves plastic and metal fittings, valves and shut-offs for
water, gas and other liquids.
The company will acquire 100% of the issued and outstanding shares of Easton, Penn.-based Harvel
Plastics for approximately $50 million in cash. The top-quality products of
Harvel are mainly used in water treatment and chemical processes. Closing of
the acquisition is anticipated for the beginning of 2012.
ranges of Harvel and GF Piping Systems are fully complementary and will allow
the combined entity to offer a comprehensive package of PVF, sensors and
instrumentation to all its industrial piping systems customers. In addition,
the plant locations of Harvel in Pennsylvania
and California together with Georg Fischer’s Arkansas facility will allow for a much better logistical
coverage of the U.S.
and Georg Fischer share a common vision for quality-driven innovation,” saidEarl
Wismer, Harvel CEO. “Joining the GF family will allow us to continue
to expand our product line and further extend our reach - offering expert
piping solutions throughout the global marketplace. We look forward to the
exciting opportunities this relationship presents, both for our valued
customers and for our continued growth.”
For the full
Georg Fischer Acquires Harvel Plastics
December 9, 2011