Wavin: Selling of participation in Australia and New Zealand

Wavin, a TEPPFA member, has announced that it has sold its 25% stake in Iplex Pipelines (manufacturer and supplier of plastic pipeline systems in Australia and New Zealand). Purchaser is the Crane Group Ltd. an Australian stock listed company that already owns 75% of Iplex. The cash proceeds from the sale are EUR 61 million (AUD 104.5 million).

As part of the transaction, Crane and Wavin have entered into a ten-year technology agreement. This is an extension of the cooperation that has existed between the two companies since 1997.

The Crane Group was originally founded 130 years ago. Today it is a leading manufacturer of non-ferrous metal products and plastic pipes and fittings. It is also the largest distributor of plumbing supplies in Australasia.

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