Georg Fischer acquires market leader in the USA
Georg Fischer Corporation, Schaffhausen, Switzerland, is to acquire the entire capital of the Central Plastics Company in Shawnee, Oklahoma, USA. The family-owned firm is the market leader in North America for utility piping systems. Georg Fischer has not been present in this business area in America owing to the differences in standards. The acquisition of Central Plastics allows GF Piping Systems to solidify its leading position in utility piping systems worldwide and to double its overall turnover in America. The acquisition is expected to be completed during the first quarter of 2008, subject to regulatory approval by the U.S. Federal Trade Commission. Parties have agreed not to disclose the financial details of the transaction.
Founded in 1955, Central Plastics generates sales in excess of USD 80 million and employs more than 500 people worldwide. In addition to the headquarters in Shawnee, the company has production sites and sales offices in Gainesville (Texas), Tianjin (China), Buenos Aires (Argentina), and Wellington (New Zealand). Central Plastics 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. With its leading position in the North American market, CPC is an ideal fit for GF Piping Systems, itself a leading supplier to the same market segment in Europe and Asia.
GF Piping Systems is a global supplier of piping systems made of plastics and metal for the transport of liquids and gases in Industry, Building Technology and Utility applications. With over 3,000 employees GF Piping Systems generates sales in excess of CHF 1 billion and is present in over 100 countries.