CONTECH Acquires Plastream Pipe Technologies
Plastream is the exclusive worldwide licensee of Plastream technology for the production of proprietary steel reinforced high-density polyethylene pipe
CONTECH Construction Products Inc. has announced the acquisition of Plastream Pipe Technologies Pty Ltd., an Australian company based in Adelaide, Australia. Plastream is the exclusive worldwide licensee of Plastream technology for the production of proprietary steel reinforced high-density polyethylene pipe. This technology is currently used and marketed by CONTECH in the U.S. and Canada under the DuroMaxx brand.
“The acquisition of Plastream demonstrates our commitment to the Plastream technology and products,” said Ron Keating, president and CEO of CONTECH. “By bringing CONTECH’s considerable sales and marketing expertise and presence in the marketplace, together with the proven products and technology of Plastream, we believe that we have significant opportunities to grow and expand the Plastream business.”
“Our success to date with the Plastream products has led us to see opportunities for the company and the product line on a worldwide basis, as part of CONTECH’s strategic plan,” said Michael Rafi, chief administrative and development officer of CONTECH. “In addition, the acquisition is another step in the execution of our international strategy and provides us a footprint to grow the rest of the CONTECH business in the Australian and Asian markets.”