On March 9, 2001, Etex Group SA acquired the pipe systems division of Glynwed International plc of the UK for £786 million in cash consideration. Etex, based in Belgium, is a privately-owned international group of companies which manufactures and sells building materials, principally plastic building and plumbing products, roof covering products, flooring products, cement board and plasterboard. Glynwed’s pipe systems division also consists of an international group of companies with products such as electrofusion fittings, valves, pumps, flowmeters and various forms of plastic pipes and fittings. Glynwed will continue to carry on business as Aga Foodservice Group plc, focusing on its consumer and foodservice operations.
Etex was represented on the Canadian aspects of this transaction by Davies Ward Phillips & Vineberg LLP, with David Ward, Q.C., and Melanie Koszegi (corporate) and Mark Katz and Simon Lockie (competition and Investment Canada issues). Glynwed was represented in Canada by Stikeman Elliott, with a team comprised of Richard Clark and Eric Lowy (corporate) and Paul Collins and Jeffrey Brown (competition).