Local manufacturer Geofabrics Australasia Pty Ltd has announced the acquisition of Plascorp Holdings Pty Ltd.
Plascorp is one of Australia’s leading privately owned manufacturers of industrial products with strong market position in PVC pipe, mine ventilation, steel reinforcement, ducting and hose.
The acquisition creates one of the largest private companies in Australia and New Zealand, manufacturing and selling highly engineered industrial products.
The acquisition complements Geofabrics market leadership in building key road, rail and mining infrastructure through Australian manufacturing and the use of recycled materials. Geofabrics group managing director, Dennis Grech, said the deal is a significant milestone for both organisations.
“Both companies are leaders in Australian manufacturing and leaders in providing innovative and local solutions to a diversified customer base across multiple segments,” he said.
“Together, the combination of Geofabrics and Plascorp brings to market a business that provides our customers a broad range of geosynthetic and industrial solutions, using local and recycled content, Australian R&D and the creation of local jobs.”
Grech said Plascorp will continue to operate as a stand-alone business with its own leadership team and Geofabrics looks forward to sharing expertise in R&D and innovation, as well as access to a deep project pipeline and a diversified product range.
George Antonopoulos and Jeff Goldberg, who are both directors of Plascorp, will remain in the business.
Michael Loudovaris has been appointed to the position of Plascorp executive general manager.