Petzetakis: Purchase of Smiths hose units

A.G. Petzetakis SA, an Athens producer of plastic pipe systems and hose, is purchasing the south European flexible hose operations of a major competitor, Smiths Industries plc. Petzetakis agreed to pay US$11.5 million for Induplas SpA of Varese, Italy; Flexiplas SA of Barcelona, Spain; and their commercial arm, Eurohose Ltd., a distributor in Slough, Britain.

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