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....