Advanced Drainage System Acquires Plastic Tubing Industries (PTI)

 

Advanced Drainage Systems, Inc. (“ADS”) (NYSE: WMS), a leading global manufacturer of water management products and solutions for commercial, residential, infrastructure and agricultural applications, today announced that it has acquired the assets of Plastic Tubing Industries (PTI), a manufacturer of HDPE pipe and related accessories, for $9.5 million.  The transaction is expected to be accretive to ADS’ net income and adjusted EBITDA in the first full year. 

 

“We are very excited to announce the acquisition of the PTI assets, which further increases our customer base and capacity in the growing Southeast region of the United States,” said Joe Chlapaty, Chairman and Chief Executive Officer.   “PTI is a highly complementary business, carries a strong brand and has exceptional customer loyalty dating back more than 40 years. We welcome the PTI team to the ADS family.” 

 

With the acquisition, ADS will increase its manufacturing footprint in Georgia and Texas, while adding production capacity to the existing ADS manufacturing facilities in Florida, to better serve growing demand in the region. PTI had sales of approximately $11 million for the year ending December 31, 2016.  

 

Video: Finding a Balance of Innovation and Regulation - Dr. Peter Facchini

Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

Dr. Peter James Facchini leads research into the metabolic biochemistry in opium poppy at the University of Calgary. For more than 30 years, his work has contributed to the increased availability of benzylisoquinoline alkaloid biosynthetic genes to assist in the creation of morphine for pharmaceutical use. Dr. Facchini completed his B.Sc. and Ph.D. in Biological Sciences at the University of Toronto before completing Postdoctoral Fellowships in Biochemistry at the University of Kentucky in 1992 & Université de Montréal in 1995.