Gravenhurst Plastics sold to Mexico-based pipe maker Mexichem
Headquartered in Gravenhurst, Ont., Gravenhurst Plastics supplies HDPE conduit and innerduct for fibre optics as well as building supply products to the Canadian market.
Gravenhurst Plastics Ltd. (GPL), a Gravenhurst, Ont.-based plastics pipe manufacturer, has been purchased by Mexico-based plastics pipe maker Mexichem SAB de CV.
Founded in 1968, GPL supplies HDPE conduit and innerduct for fibre optics as well as building supply products to the Canadian market. The company has a secondary location in Temiskaming, Ont., about 320 kilometers north of Gravenhurst.
In a statement, Mexichem said it will consolidate GPL and the Temiskaming division under its Fluent Business Group and will upgrade the company’s facilities. “The addition of GPL will establish a presence for Fluent in Canada and will provide a platform to expand all of Mexichem’s businesses in that country,” the statement said.
GPL reported $15 million in revenues for 2015.
“GPL’s telecommunication products complement Mexichem’s Fluent offerings,” said Paresh Chari, president of Fluent Business Group. “The company’s longstanding relationships in the Canadian market will enable us to expand Fluent’s international footprint…while preserving GPL’s local presence.”
The terms of the deal have not been disclosed.
With operations in over 30 countries worldwide and more than 18,000 employees, Mexichem has annual revenues of US$5.7 billion.