Woodfin – A local major manufacture of plastic piping has been bought out. Silver-Line Plastics recently announced that its shareholders have entered into a Share Purchase Agreement pursuant to which it will be acquired by IPEX part of the global company Aliaxis.
Silver-Line Plastics, located in Woodfin, is a US leader in the manufacturing of plastic pipe products with state-of-the-art production facilities in Woodfin; Lawton, Oklahoma; and Fort Pierce, Florida.
According to a press release, the acquisition will help IPEX to “…increase its market position in the US with an expanded product portfolio serving a broader client base.”
The first question on many people’s mind might be how with this affect everything from the company’s leadership down to the workers on the production floor. So the Tribune asked Silver-Line CEO, Ricky Silver, who said, “We do not expect any workforce reductions at any level.”
According to its history found on their website, Silver-Line was established here in Woodfin in 1962, when “…Charlie R. Silver and Charles J. Silver founded Silver-Line Plastics with a vision: to build a successful business that would stand the rigors of time, focused on manufacturing the highest quality pipe and supplying the best service in the industry.”
“Like IPEX, Silver-Line has a strong reputation in the marketplace for being customer-focused and supplying high-quality products. This acquisition will significantly contribute to our growth objectives in the US”, says Alex Mestres, IPEX CEO. “I am excited about the opportunities that our complementary businesses will offer our expanded customer base and look forward to welcoming the Silver-Line employees to our family.”
Ricky Silver echoes the excitement, “I am truly honored to make this announcement. The synergies between our two companies will provide our employees, customers and the market as a whole with a broader product offering, increased focus on customer service, and technology strengths that are world-class. I cannot imagine a better fit.”
Silver added, “My Father, who co-founded our Company, agrees completely.”
The sale is subject to regulatory approval. Both parties agree not to disclose the price and terms of the deal and anticipate completion of the transaction over the coming weeks.
IPEX is a part of the Brussell, Belgium-based Aliaxis Company, a global corporation. IPEX who provides a comprehensive range of thermoplastic piping systems to North American customers in the municipal, irrigation, plumbing, mechanical, electrical and telecommunication sectors. With state of the art manufacturing facilities and distribution centers across North America, IPEX has established a reputation for end-user focus, product innovation, quality and performance. For more information on IPEX, please visit: www.ipexna.com.