IPQ halted , pretty good news, Im in since a 1.50 from last week, gonna probably hold it now a little longer ;O)
canoe.ca
Greek pipe maker buys 27% of Canadian plastics company Imperial PlasTech
ATHENS (AP) -- Greek pipe company Petzetakis SA said Wednesday it has signed an agreement to take a 27 per cent stake in Canada's Imperial PlasTech Inc. (IPQ:TSE) in a deal valued at about $25 million.
As part of the agreement, Toronto-based Imperial PlasTech, which makes specialty plastics, will gain ownership of Atlanta-based Petzetakis Inc., a subsidiary of the Greek group.
Petzetakis, a manufacturer of plastic and rubber pipes and hoses, said it will provide Imperial with the knowledge and the equipment for the production of flexible pipes.
In turn, Petzetakis will gain wider access to U.S. markets and Imperial will help with the development of Petzetakis products in other areas, such as cable television.
Earlier this month, Imperial PlasTech agreed to acquire Atlanta-based Americon Inc., which makes tubes for the cable television, utility and telecommunications markets.
Imperial PlasTech, with a market valuation of about $45 million on the Toronto Stock Exchange, earned $4.25 million on revenue of $44.55 million in the nine months to Aug. 31.
WB |
