Ceramic Pipes plans to buy AcwaPipes for SAR 160 mln

12/08/2015 Argaam

Ceramic Pipes Co. signed a memorandum of understanding to buy the Arabian Company for Water Pipe Industry Ltd. (AcwaPipes) for SAR 160 million in a move to expand, integrate and diversify its production, the company said in a statement to Tadawul.

 

The memorandum is valid for six months, unless otherwise extended by both parties.

 

AcwaPipe was established in 2007 in the Saudi capital, Riyadh. It manufactures water, sewerage and industrial pipes in factories in the eastern and western regions of the kingdom.

 

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