Mexico City, Mexico — Mexico’s Rotoplas announces the purchase of Argentine company IPS in a bid to consolidate their leadership in storage water tanks.
Mexico’s Grupo Rotoplas says in order to enrich their portfolio, the company has acquired IPS, a pioneer in the thermoplastic industry being the main exporter of pipes and connections in 35 countries.
They say the purchase of the company will allow then to have greater competitiveness and new business models. In a statement, Rotoplas said that with this acquisition it reaffirms its commitment to participate in all stages of the water cycle and to focus its efforts on ensuring that water resource management improves its quality and future availability as well as care of the environment.
They explained that with this, they will be able to better meet the needs of the market and thus, fulfill the mission that “people have more and improved water”.
The executive president of Rotoplas, Carlos Rojas, said that the reconfiguration of portfolio and integration of acquisitions of 2017 had a positive impact in terms of sales and in Ebitda (Earnings before Interest, Taxes, Depreciation and Amortization).
“We achieved net sales in excess of 6.6 billion peso, an increase of 24.4 percent over the previous year derived from strong demand for individual solutions in Mexico, Argentina and Peru,” he added.
He stressed that “Rotoplas will continue to take advantage of the experience, the generation of synergies and good practices to contribute to the development and growth of this and other services in the different markets where they participate”.
IPS is a pioneer in the thermoplastic industry that for 70 years has been providing innovative solutions to professional installers around the world, being the main exporter of pipes and connections in 35 countries.