Geofabrics Australasia, a supplier of geosynthetic products, has announced the acquisition of Plascorp Holdings.
Plascorp is a privately owned Australian manufacturer of industrial products with market positions in PVC pipe, mine ventilation, steel reinforcement, ducting and hose.
The acquisition creates one of the largest private companies in Australia and New Zealand, manufacturing and selling highly engineered industrial products. The acquisition complements Geofabrics in building key road, rail and mining infrastructure through Australian manufacturing and the use of recycled materials.
“This is a very significant milestone for Geofabrics and Plascorp,” said Dennis Grech, the group managing director of Geofabrics. “Together, the combination [both companies] brings to market a business that provides our customers a broad range of geosynthetic and industrial solutions, using local and recycled content, Australian R&D and the creation of local jobs. Plascorp will continue to operate as a stand-alone business with its own leadership team and Geofabrics looks forward to sharing our expertise in R&D and innovation, access to a deep project pipeline and a diversified product range.”
George Antonopoulos and Jeff Goldberg, directors of Plascorp, will remain in the Plascorp business. Michael Loudovaris has been appointed to the position of Plascorp executive general manager.
“I am very excited to hand over the baton to a very competent and experienced team. Plascorp, as well as Geofabrics, will continue to champion the needs of customers, suppliers, staff and shareholders; ensuring that what is delivered meets our original goals and objectives. I would like to thank Geofabrics for the professionalism on all negotiations carried out. My hope is that Geofabrics and Plascorp grows from strength to strength,” said Jeff Goldberg.