Aliaxis Group and Ashirvad Pipes announce Joint Venture
Aliaxis Group S.A., a leading global manufacturer and distributor of plastic fluid handling systems and Ashirvad Pipes Pvt. Ltd., a leader in the Indian plastic pipe and fittings market, have today announced a joint venture.
The joint venture will expand the product offering of Ashirvad in the building and sanitary segments in India through a combination of Ashirvad’s strong manufacturing setup and market presence and Aliaxis’s portfolio and technical knowhow. The joint venture will allow Ashirvad to further strengthen its offering and market position across India, while it represents a major step forward for Aliaxis in the growing Indian market.
The Aliaxis Group will own the majority of the joint venture with a significant shareholding retained by the Poddars, the founders of Ashirvad Pipes. The joint venture will be led and run by the Poddars together with its existing strong and experienced management team and will continue to do business in India under the Ashirvad brand. The deal is subject to various conditions, including regulatory approvals and is expected to close before the end of the first quarter of 2013. Financial details about the transaction were not disclosed.
Aliaxis is a global leader in advanced plastic piping systems for building, infrastructure, industrial and agriculture applications. The company provides communities around the world with sustainable innovative solutions for water and energy, leading the industry in a way that anticipates the rapidly evolving needs of its customers and of society. With a global workforce of about 16,000 employees, Aliaxis offers specific solutions that meet our customers’ most demanding needs across the globe. Aliaxis is active through leading local brands and operating in over 45 countries, combining local solutions with global innovation and operational excellence. The company is privately owned, with its global headquarters in Brussels, Belgium.
More on www.aliaxis.com