Pipe manufacturers plan joint venture
Canadian PlasticsCanadian Plastics
Imperial PlasTech Inc. and Canadian-based Polytubes Inc. have announced their intention to form a joint venture. Im...
Imperial PlasTech Inc. and Canadian-based Polytubes Inc. have announced their intention to form a joint venture. Imperial PlasTech, a subsidiary of the Greek multinational Petzetakis Group, manufacturers pipe and tubing from facilities in Atlanta, GA, Peterborough, ON and Edmonton and Nisku, Alberta. Polytubes operates polyethylene pipe manufacturing plants in Edmonton, AB and Langley B.C.
Under the joint venture, Imperial will immediately begin to move its manufacturing operations in Edmonton to Polytube’s Edmonton manufacturing plant, thus reducing redundant fixed costs. Also, as part of the j.v., Polytubes will manage both Polytube’s Edmonton plant and Imperial’s production operations in Peterborough, ON.
"Polytubes brings an excellent manufacturing capability and understanding of customer needs in Canada," said Stamatis Astras, Imperial’s CEO.
The joint venture will provide Polytubes with the opportunity to expand its geographic base in Edmonton into Eastern Canada, with the region’s growing oil and gas markets.
"The joint venture offers a fast route to polyethylene pipe growth and innovation, helping Polytubes expand throughout Canada," said Robert Miller, Polytubes’ CEO.