Aliaxis Group and Ashirvad Pipes announce Joint Venture

Press release -

Aliaxis Group S.A., a leading global manufacturer and distributor of plastic fluid handling systems and Ashirvad Pipes Pvt. Ltd., a leader in the Indian plastic pipe and fittings market, have today announced a joint venture.

The joint venture will expand the product offering of Ashirvad in the building and sanitary segments in India through a combination of Ashirvad’s strong manufacturing setup and market presence and Aliaxis’s portfolio and technical knowhow. The joint venture will allow Ashirvad to further strengthen its offering and market position across India, while it represents a major step forward for Aliaxis in the growing Indian market.

The Aliaxis Group will own the majority of the joint venture with a significant shareholding retained by the Poddars, the founders of Ashirvad Pipes. The joint venture will be led and run by the Poddars together with its existing strong and experienced management team and will continue to do business in India under the Ashirvad brand. The deal is subject to various conditions, including regulatory approvals and is expected to close before the end of the first quarter of 2013. Financial details about the transaction were not disclosed.