Nuplex JV buys Fibrelogic for A$26m

Nuplex has formed a joint venture to buy Australian glass reinforced plastic pipe manufacturing firm Fibrelogic Pipe Systems for A$26 million (NZ$33.6 million).

Nuplex chief executive Emery Severin said the joint venture brought together his company's world class resin technologies and processes with the engineering and project management expertise of Australian-based RPC Technologies.

The high quality, technically advanced large diameter pipes manufactured by Fibrelogic were used in water reticulation, infrastructure and mining applications - all industries with attractive long-term growth prospects in Australia, Severin said.

Nuplex's composites business would benefit from a long-term supply agreement with the joint venture.

Nuplex expected its share of the joint venture would make a small positive contribution to its 2012 financial year earnings per share.

NZPA

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