NEWS


Pexco grows with new buy


North American speciality plastics extruder Pexco has acquired Custom Extrusion, a profile extruder with two US production facilities. Custom Extrusion, founded in 1957, serves a wide variety of industrial market segments from its plants in Massachusetts and North Carolina. Sam Patel, CEO of Pexco, said: “Custom Extrusion brings a wealth of expertise in lighting and custom industrial extrusions, and their strong history as a leading solutions provider fits perfectly with the Pexco culture.”


Since 2009, Pexco has made multiple acquisitions to become a major industrial extruder in North America. Earlier this year, it was bought by private equity group AEA Investors – and the Custom Extrusion acquisition is the first under its new ownership. “We will continue to pursue acquisitions that fit our core objectives, enabling us to enhance our suite of capabilities and expand our geograph- ic footprint as the largest custom extruder in North America,” said Patel. Richard Stover, presi-


dent of Custom Extrusion, added: “Pexco’s reputation within the plastics extru- sion industry made the decision to partner with them a logical choice for strategic future growth.” � www.pexco.com


8


Simona profits grow faster than sales revenue


Simona of Germany saw a 10% leap in profitability in the first half of the year, despite a relatively modest growth in sales revenue. The company reported


an increase in turnover of just over 2%, to nearly €205 million (US$238m) in the first half of 2018. Sales grew significantly – after currency adjustments – in both the USA and Asia, but were slower in Europe “due to a slightly weaker economic performance”.


At the same time, EBIT


grew by 10% to almost €19 million (US$22m).


Sales in the company’s pipes and fittings division was flat at nearly €40m (US$46m) in the first half, due to a “sluggish first quarter in the project-based business”.


Business picked up in the second quarter of the year, it said. Overall, sales in Q2 reached €106m, up nearly 5% on the same quarter in 2017.


“The quality of our


bottom-line result is encouraging,” said Wolf- gang Moyses, CEO of Simona. “We improved at an operating level and lifted EBIT significantly. We anticipate we can meet our revenue target of €405- 410m – and EBIT margin target of 7-9% – for 2018, despite the fact that the second half of the year tends to be weaker due to seasonal effects.” � www.simona.de


Reinforced polymer pipe replaces steel at Jersey hotel


Engineers have replaced steel pipe with a reinforced pre-insulated polymer system at a hotel in Jersey on the Channel Islands. While upgrading an


ageing, oil-fired heating and hot water system at the Merton hotel, consulting engineer Ramboll was faced with the task of replacing the existing steel distribu- tion pipe system to feed the various properties around the site. “While pre-insulated steel


pipes are a proven solution, we were drawn to the corrosion-free characteris- tics of polymer systems and the opportunity to lay the systems directly under- ground,” said Sue Follows, building services engineer at Ramboll. Ramboll went with Hiline


PIPE & PROFILE EXTRUSION | September 2018


CPV’s Hiline FibreFlex Pro replaced steel pipe at a Jersey hotel


FibreFlex Pro, from CPV, which offered the required design life – and carried no risk of corrosion. “It is reinforced with


aramid fibres, meaning it can safely operate at temperatures of up to 115°C and pressures of 16 bar,” said Follows.


In total, 683m of Hiline


FibreFlex – ranging in dimensions from 50 to 160mm – was installed, rolled out directly from coils into pre-prepared trenches excavated in parallel to the existing concrete ducts to minimise disruption. � www.cpv.co.uk


www.pipeandprofile.com


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