Advanced Drainage Systems Acquires Surface Drain Maker Duraslot
Published on by Water Network Research, Official research team of The Water Network in Business
Advanced Drainage Systems Inc. has acquired Duraslot Inc., a manufacturer of surface drains to collect storm water.
ADS plans to broaden its own product offering while leveraging its national network to spur Duraslot growth.
Terms were not disclosed for the deal between ADS, a publicly traded company based in Hillard, Ohio, and Duraslot, which manufactures products in South Glens Falls, N.Y., and previously was called Hall Construction Products and Services.
Duraslot surface drains are made from double-wall corrugated polyethylene pipe and have an aluminum slot mounted on top to intercept storm water from paved or clear areas. The company’s acquisition was announced Aug. 3 along with ADS’s first quarter results for its 2018 fiscal year.
ADS saw flat sales of $358.4 million and a slight dip of $900,000 in profit to $18.5 million mostly due to higher material costs and headwinds in agricultural and international markets with weakness in Canada driven by weather.
Sales from domestic agricultural markets was down 13 percent for the first quarter and some restructuring actions will be taken.
Read full article: Plastic News
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