Georg Fischer acquires pipe extruder Harvel Plastics

Switzerland-based Georg Fischer announced the acquisition of Harvel Plastics Inc., an Easton, PA based pipe extruder. Georg Fischer said the acquisition represents another step in the implementation of its plant to expand its piping systems business worldwide. The company is acquiring 100% of the issued and outstanding shares of Harvel Plastics for approximately $50 million in cash.

Harvel Plastics, which is a subsidiary of the Detrex Corp. (Southfield, MI), was founded in 1964 as a pioneer in the manufacture of PVC and CPVC pipes for industrial applications. The company generates sales of more than $60 million annually and employs 148 people. Harvel has manufacturing plants in Easton, PA and Bakersfield, CA, and a warehouse/distribution center in Coppell, TX. The company specializes in industrial piping systems with both single and twin-screw extrusion capabilities that produce products ranging from 1/8-24 inches in diameter, and custom extrusions for the production of pipe, duct, angle, solid rounds, hexes, squares, and heavy-wall tubing.

Georg Fischer is an industrial conglomerate consisting of three groups: GF Automotive; GF Piping Systems; and GF AgieCharmilles, maker of machine tools and electric discharge machines (EDM) for tool and mold making.

GF Piping Systems is a global supplier of plastic piping systems for the conveyance of liquids and gases in industry, building technology and utility applications. With 4730 employees, GF Piping Systems generated sales in 2010 of CHF 1.18 billion in more than 100 countries, said Georg Fischer.

Yves Serra, Georg Fischer CEO said of Harvel: "With its highly regarded and leading industrial pipe range, Harvel is an ideal fit for GF Piping Systems, itself the worldwide leading supplier of industrial plastic fittings, valves, sensors and instrumentation."

The product ranges of Harvel and GF Piping Systems are complementary and will allow the combined entity to offer a comprehensive package of pipes, fitting, valves sensors and instrumentation to all its industrial piping systems customers. Additionally, 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. territory, said the company.

Earl Wismer, Harvel CEO, said, "Joining the GF family will allow us to continue to expand our product line and further extend our reach - offering expert piping solutions through the global marketplace."