DUBAI, June 27, 2013 /CNW/ - Future Pipe Industries Group (FPIG), as
part of the execution of its global growth strategy, has acquired 100%
of the fiberglass pipe manufacturing business, Protecciones Plásticas,
S.A.U., which carries on business under the trading name "Protesa".
Protesa has its headquarters in Barcelona, Spain, with facilities in
Zaragoza, Spain; Pune, India and Jorf Lasfar, Morocco. The takeover is
a major strategic addition to FPIG's composite pipe business and adds
considerably to its ability to service its clients particularly in the
water, desalination, industrial and infrastructure sectors in Europe,
North West Africa and Latin America as well as provide FPIG with its
first manufacturing facility in India.
"This acquisition marks an important step in our strategy to diversify
outside of our core market in the GCC" said Fouad Makhzoumi, Chairman
and CEO of Future Pipe Industries Group. "Protesa has been
manufacturing GRP (Glass Fiber Reinforced Polyester) composite pipe
systems for over 50 years and is one of the leaders in its field, with
a strong network of clients across Europe, North Africa and globally.
We are therefore very pleased to have been able to conclude this
acquisition and are excited about the potential it brings to our
growing group of companies, particularly as it significantly increases
our ability to service our clients from a dedicated GRP facility in
"The acquisition of Protesa continues our strategy of organic growth
coupled with the acquisition of other complementary businesses which
enable us to extend our global reach. This is the second such
acquisition this year after the acquisition of Specialty Plastics, Inc.
in April 2013."
Future Pipe Industries Group was established in 1984 and has since grown
to become a global leader in anti-corrosive fiberglass pipe system
design and manufacturing. FPIG offers a complete product range and
solutions to complex engineering projects for a wide variety of
applications in the Oil & Gas, Marine, Industrial, and Infrastructure
sectors. FPIG currently operates 9 factories around the world with more
than 3500 employees and serves more than 300 major customers in over 50
Protesa is a Spanish company which was founded in 1959 with the aim of
researching, designing, producing, marketing and installing GRP pipes
Protesa is active in sectors that require advanced technological
solutions, such as those involving sewage networks, wastewater
treatment plants, water supply networks, transmission lines, irrigation
networks, purification plants, power plants, desalination plants, fire
protection systems, industry, etc.
Today, Protesa has 285 highly skilled employees and carries out
large-scale projects throughout the world, in among other Australia,
Chile, Algeria, Morocco, Panama, the UK, France, and Switzerland.
Furthermore, the company has a network of international agents in
several countries, including Germany, France, the Netherlands, Italy,
Bulgaria, the UK, Switzerland, the Czech Republic, Portugal and
SOURCE: Future Pipe Industries Group (FPIG)
For further information:
Future Pipe Industries, Mariana Missakian, Corporate Communications Director, T: +971-4-3896152, E: firstname.lastname@example.org.