Armtec purchases HDPE pipe manufacturer
Guelph, Ont.-based Armtec Infrastructure Income Fund has announced that it has acquired the assets of Walkerton, On...
Guelph, Ont.-based Armtec Infrastructure Income Fund has announced that it has acquired the assets of Walkerton, Ont.-based Bruce Tile for approximately $9.5 million. Bruce Tile is a manufacturer of high-density polyethylene (HDPE) pipe and drainage tile for the provincial agricultural market.
According to the terms of transaction, Armtec purchased Bruce Tile’s machinery, plant equipment, and inventory used in the manufacture of single wall drainage tubing.
“With the improvement in the agricultural markets expected to continue in 2008, Armtec’s investment in this business will broaden our market presence in this important sector, while creating new opportunities to offer a wide range of complementary product lines to new and existing customers,” said Armtec president and CEO Charles Phillips.
Armtec manufactures and markets drainage products and engineered bridging solutions for a cross-section of industries.
In addition to the agricultural business, Bruce also services residential drainage and infrastructure markets in Ontario.