Mexichem, a leader in the manufacture and supply of plastic piping and one of the world’s largest chemical and petrochemical companies, has acquired Gravenhurst Plastics Ltd. (GPL) to take forward its global growth model. It contributes to global development by delivering an extended portfolio of products to high growth sectors such as infrastructure, housing, datacom and water cycle management. With operations in over 30 countries across the world, it employs more than 18,000 employees. Mexichem’s annual revenues are US$5.7 billion.
GPL, established in 1968,is a privately held plastics pipe manufacturer based in Gravenhurst, Ontario (outside Toronto) with a secondary location in Temiskaming, Ontario. GPL supplies High-Density Polyethylene (HDPE) conduit and inner duct for fiber optics as well as building supply products to the Canadian market. GPL generated $15 million in revenues in 2015.
Fluent Business Group of Mexichemhas high-tech Dura-Line brand, a world leader in HDPE conduit, duct and pressure-pipe solutions for telecom, data communications, and infrastructure industries, specializing in facilitating enhanced networks for tier-one communication companies. Fluent Business Group has annual revenues of ~US$3B LTM, is a leader in value-added pipe and fitting solutions serving water, datacom and infrastructure markets worldwide. With the acquisition of Gravenhurst, Fluent will make a presence in Canada and will provide a platform to expand all of Mexichem’s businesses in that country.
“Gravenhurst’s telecommunication products complement Mexichem’s Fluent offerings,” said Paresh Chari, President of Fluent Business Group. “Gravenhurst’s longstanding relationships in the Canadian market will enable us to expand Fluent’s international footprint, leveraging world –renowned Dura-Line branded products while preserving Gravenhurst’s local presence.”
“We are pleased to partner with Gravenhurst in the evolution of the Canadian datacom business, “said Emmanuelle Dubu, President, Fluent USA/Canada.