Dec 19 2009
Chase Corporation (NYSE Amex: CCF), a global manufacturer of protective tapes and coatings, announces that it has acquired the full range of ServiWrap® pipeline protection products from Grace Construction Products, a unit of W.R. Grace & Co.
ServiWrap high performance tapes, that have been protecting offshore and onshore pipelines from corrosion around the world for over 30 years, will be manufactured and distributed by Chase Corporation utilizing our existing, state-of-the-art, manufacturing capacity. The purchase was funded through a combination of cash and bank financing.
ServiWrap/ServiShield® anti-corrosion systems have provided tough, self-adhering protection for new and refurbished oil, gas and water pipelines on thousands of miles of pipe used in prestigious projects around the world, with demonstrated performance that is equally effective on pipe lengths, bends, joints or valves.
The acquisition of ServiWrap will complement the extensive industry leading portfolio of Chase pipeline protection tapes, coatings and accessories and will substantially extend Chase Corporation’s global customer base. ServiWrap also builds upon Chase’s most recent acquisition, C.I.M. Industries, manufacturers of high performance immersion coatings for the water and wastewater industry. ServiWrap will continue to be available through the current network of distributors.
“This acquisition further underscores our commitment to the growing global pipeline preservation and water/wastewater markets and is consistent with our mission of being a leading provider of global infrastructure protection and refurbishment technologies”, said Peter Chase, Chase Corporation’s Chairman and CEO, “our growth via strategic acquisitions has and will remain an important component of our growth strategy.”
Source: http://www.chasecorp.com/