Wavin sells participation in Australia/New Zealand, and enters into long term technology agreement

Mar 31, 2006

The Wavin Group, Europe's leading supplier of plastic pipe systems and solutions, announced that it has sold its 25% stake in Iplex Pipelines (manufacturer and supplier of plastic pipeline systems in Australia and New Zealand).

Purchaser is the Crane Group Ltd. an Australian stock listed company that already owns 75% of Iplex. The cash proceeds from the sale are EUR 61 million (AUD 104.5 million).

As part of the transaction, Crane and Wavin have entered into a ten-year technology agreement. This is an extension of the cooperation that has existed between the two companies since 1997.

The Crane Group which was originally founded 130 years ago. Today it is a leading manufacturer of non-ferrous metal products and plastic pipes and fittings. It is also the largest distributor of plumbing supplies in Australasia.

Profile Wavin Group
The Wavin Group is Europe’s leading supplier of plastic pipe systems and solutions. The company provides essentials: modern and flexible systems for drinking water, heating and cooling, rain- and storm water, drainage, energy and telecom.

Wavin is headquartered in Zwolle (The Netherlands) and has a presence in 27 European countries. It has around 40 manufacturing sites throughout Europe and one in Foshan, China.

The company employs approximately 6,800 people. Outside Europe, it has a global network of more than 120 agents, licensees and distributors. Wavin puts much emphasis on innovation.

New products and solutions are developed both at Wavin Technology & Innovation (T&I) - the central research and development facility - and at the local Wavin companies.

In 2005 new systems were launched for the rainwater and sewer market and for surface heating and cooling. More details about Wavin can be found at http://www.wavin.com

Press contact:
Herbert van Zijl
Director Corporate Communication Wavin Group
 Tel.: +31 38 429 4209
 E-mail: Herbert.van.Zijl@wavin.com
Web:http://www.wavin.com

Contact

Wavin

E-Mail:

Herbert.van.Zijl@wavin.com

Internet:

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