Aliaxis to acquire Vinidex
On 3 June 2014 Aliaxis announced the signing of a share purchase agreement to acquire Metal Manufactures Ltd’s wholly owned subsidiary Vinidex Pty Ltd, a leading Australian manufacturer of PVC and Polyethylene piping systems with state-of-the-art manufacturing facilities and distribution network across Australia. Vinidex generates AUD 500 million (approximately € 340 million) in annual sales. The Company is active in diverse markets, supplying a broad range of products for building, infrastructure, irrigation, mining and industrial applications. Financial details about the transaction were not disclosed.
The acquisition of Vinidex is a significant step in Aliaxis’ development as a leading global manufacturer and distributor of plastic fluid handling solutions. Joining forces with Vinidex enables the Group to deliver on its strategy of strengthening its global reach and seizing opportunities in growing markets to deliver sustainable profitable growth. As a member of Aliaxis, Vinidex will gain access to a range of new products and know-how, which will contribute to further expanding the business and enhancing the value proposition for its customers.
Chief Executive Officer of Aliaxis, Yves Mertens, said “Today marks a very significant step in the global development of Aliaxis. We are very excited about Vinidex joining Aliaxis and we welcome the Company’s strong management team and all 600 committed employees on board. We will continue to build on Vinidex’s excellent reputation in terms of product quality, service and innovation established over the last 50 years.
Our businesses in Australasia, including Vinidex, will be under the continuing leadership and co-ordination of Don McKenzie, our divisional CEO Australasia. We welcome Colin Weatherstone, Managing Director of Vinidex, on board as a key member of the Australasian Leadership Team. Vinidex will join, and add to, a portfolio of leading brands across the globe.”
The sale is subject to regulatory approval. Both parties anticipate a completion of the transaction over the coming months.
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