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Steel & Tube confirms acquisition of Aquaduct
MEDIA RELEASE
TUESDAY, SEPTEMBER 15, 2015
Steel & Tube confirms acquisition of Aquaduct
Steel & Tube Holdings Ltd has completed its acquisition of Canterbury-based Aquaduct and Bosch Irrigation.
Aquaduct specialises in large bore long length polyethylene pipe and on-farm irrigation and was a key supplier of product to the Valetta and Central Plains irrigation schemes.
The companies, founded by Gerard van den Bosch, went into receivership earlier this year. Mr van den Bosch will continue working for S&T in a new role.
CEO Dave Taylor says the acquisition “Will enhance S&T’s capability as a key supplier of reticulation products, taking us into new and exciting territory.
“Aquaduct is a great company with an innovative and exciting product offering that complements our core business.”
The company will continue the Aquaduct and Bosch branding.
The consideration for the acquisition is $8 million in cash.
ENDS
About
S&T
S&T is New Zealand’s leading supplier of
steel products and services. It has a nationwide service and
distribution network in key centres, and is listed among the
top 50 companies on the New Zealand Stock Exchange. It
caters to numerous sectors across the New Zealand economy
including commercial and residential construction,
manufacturing, rural and heavy and light engineering. Its
product range includes the Hurricane, Atlas, ComFlor and
Fortress brands.
About Aquaduct NZ
Ltd
Aquaduct is a New Zealand based
polyethylene pipe manufacturers specialising in the
manufacture of large bore, long length PE 100 pipe. High
quality pipes up to 1.6m diameter are manufactured in
lengths from 6m to 250m. The company is based just outside
of Ashburton and employs approximately 30
people.
About Bosch Irrigation
Ltd
Bosch Irrigation, based in Norwood,
Christchurch, specialises in designing, manufacturing and
installing irrigation systems. The systems are engineered
to ensure that water, energy, capital, labour are used as
efficiently as
practical.
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