Georg Fischer AG

GF to acquire leading US marine service provider

Announcement according to SIX adhoc publication article 53 KR

Schaffhausen (pta006/06.08.2019/07:00) - GF Piping Systems, a division of GF, announces the acquisition of Global Supply Co. Inc., Hallandale, Florida (USA), a specialized service provider to the marine industry. The acquisition will allow GF Piping Systems to expand its footprint in the promising US marine market.

The marine market is a growing key strategic market segment for GF Piping Systems, the largest division of GF. Global Supply Company Inc. has been a long-standing, trusted partner for the division to service the retrofit market for cruise ships in the USA. The acquisition strengthens the technical and logistics service support of GF Piping Systems to the cruise line customers.

Both parties have agreed not to disclose any financial details of the transaction.

Global Supply Company Inc. was founded more than 40 years ago and currently has 20 employees. The company will be renamed GF Marine USA and continue to focus on servicing the marine retrofit market with the current workforce. Charles Gualdoni, founder and current president, intends to retire following a successful transition period.

GF Piping Systems is a leading supplier of piping systems made of plastics and metal. The division focuses on system solutions and high-quality components for the safe transport of water, chemicals and gases, as well as corresponding services. The product portfolio of fittings, valves, pipes, automation, and jointing technologies covers all applications of the water cycle.

(end)

emitter: Georg Fischer AG
address: Amsler-Laffon-Strasse 9, 8200 Schaffhausen
country: Switzerland
contact person: Beat Römer
phone: [phone]
e-mail: [e-mail]
website: www.georgfischer.com

ISIN(s): CH0001752309 (share)
stock exchanges: listed in SIX Swiss Exchange

[ source: http://www.pressetext.com/news/20190806006 ]