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Steel & Tube confirms acquisition of Aquaduct


MEDIA RELEASE

TUESDAY, SEPTEMBER 15, 2015

Steel & Tube confirms acquisition of Aquaduct

Steel & Tube Holdings Ltd has completed its acquisition of Canterbury-based Aquaduct and Bosch Irrigation.

Aquaduct specialises in large bore long length polyethylene pipe and on-farm irrigation and was a key supplier of product to the Valetta and Central Plains irrigation schemes.

The companies, founded by Gerard van den Bosch, went into receivership earlier this year. Mr van den Bosch will continue working for S&T in a new role.

CEO Dave Taylor says the acquisition “Will enhance S&T’s capability as a key supplier of reticulation products, taking us into new and exciting territory.

“Aquaduct is a great company with an innovative and exciting product offering that complements our core business.”

The company will continue the Aquaduct and Bosch branding.

The consideration for the acquisition is $8 million in cash.

ENDS

About S&T
S&T is New Zealand’s leading supplier of steel products and services. It has a nationwide service and distribution network in key centres, and is listed among the top 50 companies on the New Zealand Stock Exchange. It caters to numerous sectors across the New Zealand economy including commercial and residential construction, manufacturing, rural and heavy and light engineering. Its product range includes the Hurricane, Atlas, ComFlor and Fortress brands.
About Aquaduct NZ Ltd
Aquaduct is a New Zealand based polyethylene pipe manufacturers specialising in the manufacture of large bore, long length PE 100 pipe. High quality pipes up to 1.6m diameter are manufactured in lengths from 6m to 250m. The company is based just outside of Ashburton and employs approximately 30 people.
About Bosch Irrigation Ltd
Bosch Irrigation, based in Norwood, Christchurch, specialises in designing, manufacturing and installing irrigation systems. The systems are engineered to ensure that water, energy, capital, labour are used as efficiently as practical.

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