AVK acquires Currumbin Manufacturing Facility & Wang Components Pty Ltd
We are pleased to announce the completion of two strategic acquisitions that will position the AVK Australia Group as the leading supplier of valves and fittings to the Australian and New Zealand markets.
- Currumbin Manufacturing Facility: AVK will acquire the Currumbin manufacturing assets from Viadux effective December 1st 2016. AVK sees this facility as an important strategic asset and will continue operating this facility as an important part of its supply chain. The facility manufactures valves, fittings, flange pipe and street-ware. All the approx. 100 employees will be offered transfer of employment to AVK.
- Wang Components Pty Ltd: AVK will acquire the shares of Wang Holdco Pty Ltd, and its subsidiary Wang Components Pty Ltd (including the business of Complete Tapping Services (CTS)) effective December 1st 2016. Wang and CTS are highly regarded as successful businesses and will complement the AVK product offering. Wang manufacture a complete range of clamps and couplings and CTS is a service company offering under pressure tapping.
- Viadux Supply Agreement: AVK has also entered a long-term supply agreement to provide Viadux with valves, fittings, clamps and couplings.
Both the Wang and Currumbin facilities have highly capable people and we look forward to welcoming them to the AVK team. This is an exciting time for AVK. As a dedicated supplier of innovative high quality valves and fittings solutions these acquisitions will consolidate the AVK Australia Group’s position as the leading valve and fittings manufacturer in Australia. The future structure of the AVK Australia Group is shown below.
For more information, please do not hesitate to contact us.
Chairman of the AVK Australia Group