Creates the Global Sealing Leader across All Segments of the Energy Industry
PARIS, Dec. 21, 2012 /CNW/ - Building on its expansive growth in recent years, FDS Group has acquired Custom Rubber Products, the Houston-based manufacturer of elastomer, phenolics, and thermoset plastic products for upstream and midstream oilfield and industrial markets.
"Adding Custom Rubber Products to our portfolio immediately positions FDS as the global leader in static sealing technology across all segments of the energy industry: upstream, midstream, downstream and power generation," said Remi Toledano, President and CEO of FDS Group. "Its innovative approach to designing and producing highly-specialized solutions, with an uncompromising eye toward reliability and safety, is an ideal fit with other FDS Group companies who operate with the same customer-centric values."
This acquisition comes less than a year following FDS' purchase of Canadian manufacturer AGS Group, Inc. FDS Group's global network also includes Flexitallic, SIEM, Novus, Induseal and Sealex, with manufacturing operations in the U.S., Canada, Mexico, U.K., France, Germany and China plus licensed production partners worldwide.
"We were impressed by Custom Rubber Products' ability to meet customer demand through its research and development activities," noted Jerry Lastovica, FDS Americas President and CEO. "With FDS' global distribution and manufacturing network, Custom Rubber will be able to address the local country requirements of its international customers."
Custom Rubber Products (www.CustomRubber.com), founded in 1961, operates out of an 88,000 square foot manufacturing campus in Houston, Texas. With support for compression, transfer and injection molding, it incorporates more than 250 active elastomer and phenolic compounds for a broad spectrum of products and environments.
Financial terms of the sale were not disclosed.
About FDS Group
Established in 2004, FDS Group (www.FDSGroup.net) is a global leader in specialized sealing solutions and products serving the oil and gas, power generation, chemical and petrochemical industries in emerging and developed markets. Its operating companies include Flexitallic, AGS Flexitallic, SIEM, Novus, Induseal, Sealex and Custom Rubber Products. With approximately 1,200 employees, its 2012 sales are projected to reach $270 million USD.
Nancy Battles, Bush Communications for FDS Group
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SOURCE: FDS Group
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