Germany, 20 June, 2013 –
NORMA Group, an international market and technology leader for engineered joining technology, signed an agreement on 20 June, 2013 to acquire 100% of the shares in the Australian business Guyco Pty Limited (“Guyco”). The parties agreed to maintain confidentiality on the transaction details. Closing of the transaction is expected to take place in July 2013.Guyco, headquartered in Adelaide, commenced business in 1994 as a distributor to the agricultural market. Today the company specialises in the design, manufacture and distribution of fittings and valves for freshwater distribution, irrigation, agricultural, plumbing and industrial market sectors. Guyco supplies over 700 customers in Australia and New Zealand through its warehouses in South Australia, Western Australia and Queensland. It employs 32 employees and generated sales of around EUR 7 million in 2012.
“We are pleased with the acquisition of Guyco,” says Werner Deggim, CEO of NORMA Group. “The service range of Guyco ideally complements our recent acquisitions of Chien Jin Plastic, a Malaysian manufacturer of pipe compression fittings and components for the irrigation, agriculture and water distribution markets, and Davydick, an Australian distributor of rural irrigation fittings, valves, and pumpsfor the agricultural, hardware and plumbing markets.” It is a valuable enhancement to the company´s product portfolio and strengthens NORMA Group’s presence in the Asia-Pacific region.Additional information on the company is available on www.normagroup.com. To download press pictures, please vis (…)