Armtec buys Oxford’s corrugated pipe assets
Canadian PlasticsCanadian Plastics
Armtec Infrastructure Income Fund, a manufacturer and marketer of a broad range of infrastructure products, has ann...
Armtec Infrastructure Income Fund, a manufacturer and marketer of a broad range of infrastructure products, has announced that it has acquired certain specified assets of Oxford Plastics Inc. for approximately $5.7 million.
Embro, Ont.-based Oxford Plastics is a manufacturer and supplier of high density polyethylene pipe (HDPE) drainage tile focused on Ontario’s agricultural market and building trades sector.
Under the terms of the transaction, Armtec has bought Oxford’s equipment used to manufacture and distribute corrugated tubing, in addition to its existing inventories in Embro and Chatham in southwestern Ontario.
Oxford is a highly regarded supplier of tubing for the Ontario agricultural market, and according to Armtec, the market is expected to be strong for the next several years due to increased demand for food and crop prices that are near historically high levels. Oxford also supplies to the building trades sector, which is an important market segment that Armtec already serves with a range of product.
The fund’s Armtec division specializes in corrugated HDPE pipe and corrugated steel pipe for drainage applications and highly engineered solutions including bridging products and water management systems.
“The acquisition of these assets further emphasizes our commitment to the Ontario agricultural and building trades markets,” said Charles Phillips, president and CEO of Armtec. “Our network of manufacturing and distribution locations, combined with our expertise in these markets and broader range of products will help Armtec achieve its goal of providing customers with the best solution and service currently available.”
Having divested its HDPE corrugated pipe division, Oxford now plans to expand its solid-wall pipe division.