NAPCO Pipe & Fittings Announces Acquisition of LASCO Fittings, Inc.
HOUSTON–(BUSINESS WIRE)–North American Pipe Corporation (NAPCO), a subsidiary of Westlake Chemical Corporation (NYSE: WLK), announced today that it has acquired LASCO Fittings, Inc., a Brownsville, Tennessee-based, leading designer, engineer and manufacturer of injected – molded PVC fittings from Aalberts, NV.
“We are pleased to announce this acquisition,” said Andre Battistin, vice president of NAPCO Pipe & Fittings. “Adding LASCO Fittings to our product mix will help NAPCO expand into other markets, especially as LASCO specializes in half-inch to four-inch fittings and serves the plumbing, pool and spa, industrial, irrigation and retail markets in serves the United States. LASCO’s product mix is highly complementary to our existing range of pipe and fitting products, primarily four or more inches in diameter, and will add additional fittings to NAPCO’s offering. We look forward to welcoming LASCO’s approximately 560 employees to the Westlake family of companies.”
LASCO Fittings operates a 48-acre, 500,000-square-foot manufacturing and distribution facility in Brownsville, Tennessee, northeast of Memphis. With eight regional distribution facilities strategically located across the United States, LASCO can quickly deliver to its customers throughout North America.
The proposed transaction is subject to customary closing conditions, including the expiration or termination of the applicable vesting period under the US Hart-Scott-Rodino Antitrust Improvements Act of 1976, and is expected to close in the second half of 2021.
About NAPCO Pipe & Fittings
NAPCO, a Westlake company, is a leading North American manufacturer of polyvinyl chloride (PVC) pipes. Founded in 1992, NAPCO supplies a wide range of gaskets, solvent welded and bonded connecting pipes to a wide variety of markets including municipal water and sewage, residential plumbing, water wells and agricultural and grass irrigation. The company has a large and experienced R&D team that ensures product improvements that deliver innovative solutions that meet the most challenging needs of customers. NAPCO offers a wide selection of PVC pipes and fittings, including brands such as Certa-Lok®, Yelomine®, Certa-Set® and Certa-Flo®.
Westlake is a global manufacturer and supplier of materials and innovative products that improve life every day. Headquartered in Houston, we provide the building blocks for essential solutions – from construction products and infrastructure materials, to packaging and healthcare products, to automotive and consumer goods. For more information, visit the company’s website at: www.westlake.com.
Statements in this press release that are not historical statements, including statements regarding the expected timing of closing and whether the required regulatory approval will be obtained, are forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are subject to significant risks and uncertainties, many of which are beyond Westlak’s control. Actual results could differ materially based on factors including, but not limited to: the timing to close the proposed transaction; the conditions for closing the proposed transaction may not have been met or the closing of the proposed transaction may not otherwise occur; the risk that HSR approval will not be obtained or will be obtained under conditions that are not foreseen; devoting management time to transaction-related matters; and other risks and uncertainties described in Westlake’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the Securities and Exchange Commission (“SEC”) in February 2021, Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, filed with the SEC in May 2021, recent current reports on Form 8-K and other SEC filings. These filings also discuss some of the important risk factors that could affect Westlake’s business, results of operations and financial condition. Westlake assumes no obligation to publicly revise or update any forward-looking statements for any reason.