Mexico's Rotoplas to buy IPS in Argentina
Mexican water services provider Grupo Rotoplas has reached a preliminary agreement for the acquisition of 100% of the shares in IPS, an Argentine thermoplastic firm.
The transaction will be entirely funded with Rotoplas' own resources and is expected to close during the second half of this year, the company said in a statement that did not disclose the price tag.
With two industrial plants, IPS is a piping and fitting exporting company that sells its products to more than 35 countries. The firm also provides technical support services and hydraulic tests for its customers.
The purchase forms part of Rotoplas's strategy to consolidate its water solutions portfolio in Argentina. In 2016, Rotoplas completed the acquisition of Argentine water heaters manufacturer Talsar.
Rotoplas provides individual and integrated solutions for storing, carrying and treating water. Its products include water storage tanks, pipes, filters, purifiers, outdoor composting systems and rainwater collection systems.
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