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MoreViega Inc. (USA) signed an agreement to acquire Vanguard Piping Systems and Midtec Inc. (McPherson, Kan.). The transaction was expected to close mid-October. It is estimated that the combined companies will increase to a 23 percent market share in the U.S. PEX plumbing and heating market.
Vanguard recently posted 2004 PEX pipe sales of $115 million. Vanguard and Midtec's branded product offerings includes the MANABLOC water distribution system and Vanex Ultra PEX tubing.
According to the companies, the agreement extends Viega's reach into specific product categories and will assist in solidifying its position in the U.S. radiant heating sector.
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