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Advanced Drainage Systems, Inc. Completes Acquisition of Hancor, Inc.

 

HILLIARD, OH – July 29, 2005: With the expiration of all applicable waiting periods under the Hart-Scott-Rodino Act, Advanced Drainage Systems, Inc. today completed the previously announced acquisition of Findlay, Ohio based Hancor, Inc.

"Today’s announcement is about the confluence of two strong companies that will now become one great company," said Joe Chlapaty, ADS President and Chief Executive Officer. "The result will be a vigorous competitor in the supply of storm water management systems that will allow us to provide comprehensive product and service solutions for design engineers, public works officials and underground utility contractors."

"An investment of this scale clearly demonstrates ADS’ ongoing commitment to promoting the approval and acceptance of HDPE pipe in building and repairing the country’s storm sewer infrastructure," Chlapaty continued. "We believe the completion of our transaction will provide significant benefits to our customers in the marketplace."

The new organization will now have 43 domestic and international manufacturing facilities producing pipe and fittings in 2-inch though 60-inch diameters, along with other engineered surface and sub-surface drainage structures.

"We will have an unmatched breadth of product line and field sales/engineering experience to support the industry in meeting the challenges of future growth and infrastructure repair," said Chlapaty. "Now with the size and scale to enhance our manufacturing, marketing and distribution efficiencies, we will be in a stronger position to compete with manufacturers of concrete, steel and PVC pipe."

The two companies are developing integration plans that build on the cultural similarities and the best business and product development practices from each company. Chlapaty stated that "successful integration of the two companies will be critical in our success going forward. Our philosophy is one dedicated to build and acquire the necessary technologies to provide the best products and services to our customers worldwide. Now that the acquisition is complete, we can hit the ground running with the finest talent and expertise in the stormwater management industry."

About Advanced Drainage Systems, Inc.
Advanced Drainage Systems, Inc. (ADS), is the world’s largest producer of HDPE corrugated plastic pipe. Founded in 1966, it serves the storm water drainage industry through a global network of 28 manufacturing plants, 28 distribution centers and nearly 4000 independent distributors. In addition to its flagship N-12® pipe, the company offers a complete line of fittings and other accessories including StormTech® stormwater chambers, Nyloplast drainage structures and various geotextiles through its relationship with SI Geosolutions, and Naue GmbH. To learn more about ADS, log on to www.ads-pipe.com, or call 800-733-7473.

About Hancor, Inc.
Originally founded as the Hancock Brick and Tile Company in 1887, Hancor, Inc. has been an industry leader providing innovative drainage and water conservation solutions for a broad range of industries and applications worldwide. The company operates 15 manufacturing facilities and 5 distribution centers serving North America through its broad network of independent distributors. The company’s Sur-Lok® pipe is complemented with EcoFirst® recycled HDPE pipe and SaniTite® pipe for sanitary sewers. The company also provides a wide range of fittings, geotextiles and other underground drainage structures.

 

For more information, please contact:

Joe Chlapaty
Advanced Drainage Systems
(614) 658-0050
E-mail: nina.puluso@ads-pipe.com

 

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