Large plastic pipe manufacturer for the water infrastructure sector Asset International has been acquired.
The Newport-based firm, which employs 72, has been bought by market leader in water infrastructure systems SDS. The value of the deal has not been disclosed.
The deal gives SDS exclusive rights to manufacture Asset International's Weholite large diameter plastic pipes in the UK and the Republic of Ireland.
Last year Asset International generated sales of £10m.
The Newport plant, which has been operating for more than 20 years, has the capacity to produce 10,000 tonnes of Weholite products a year.
The new business will trade under the names of Weholite and Weholite International.
SDS said it will provide continuity of service to all Weholite customers and takes on immediate responsibility for ensuring the delivery of current and planned projects.
Its managing director Patrick Cullen said: “Our acquisition of Asset International’s Weholite business marks a major milestone in our strategic vision to expand the development of innovative, efficient and cost-effective products and services that tackle the challenges of managing water from source to sea and deliver vital water security.
“Water is both a vital resource for life and a danger to our livelihoods. Whether we have too much or too little, the critical infrastructure required to ensure its supply, whilst also protecting us from flooding, is under increasing stress.
"The way we manage water in future, therefore, will be fundamental not only to protecting the environment, but also to human well-being and commercial prosperity.”
