6/27/2013 12:29:00 PM
NEWS BRIEF
NORMA Group agreed to acquire Australia-based Guyco Pty Limited for an undisclosed amount. The deal is expected to close in July 2013.
Guyco, headquartered in Adelaide, was founded in 1994 as a distributor to the agricultural market. Today the company specializes in the design, manufacture and distribution of fittings and valves for freshwater distribution, irrigation, agricultural, plumbing and industrial market sectors.
Guyco supplies over 700 customers in Australia and New Zealand through its warehouses in South Australia, Western Australia and Queensland. It employs 32 employees and generated sales of around EUR 7 million in 2012.
“The service range of Guyco ideally complements our recent acquisitions of Chien Jin Plastic, a Malaysian manufacturer of pipe compression fittings and components for the irrigation, agriculture and water distribution markets, and Davydick, an Australian distributor of rural irrigation fittings, valves, and pumps for the agricultural, hardware and plumbing markets,” stated Werner Deggim, CEO of NORMA Group.
Headquartered in Maintal, Germany, NORMA Group is an international engineered joining technology company formed in 2006 in a merger between the German Rasmussen Group and the Swedish ABA Group.
NORMA Group offers 30,000 products to approximately 10,000 customers in 100 countries. The company’s joining products can be found in vehicles, ships, trains, aircraft, domestic appliances, engines and plumbing systems as well as in applications for the pharmaceutical and biotechnology industry.
NORMA Group generated sales of around EUR 605 million in 2012, and employs 4,500 workers at 19 production facilities as well as numerous sales and distribution sites across Europe, the Americas and Asia-Pacific. ©2013 GlobalFastenerNews.com
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