Caparo Precision Tubes acquire Hayes
Caparo Group, chaired and founded by Lord Paul, is pleased to announce that on January 30th 2007 it’s wholly owned subsidiary, Caparo Precision Tubes Limited (“Caparo”), agreed with the owners of Hayes Tubes Limited (“Hayes”) to acquire 100% of share capital. The acquisition is subject to certain conditions being satisfied and should these conditions be fulfilled, completion is expected by the end of March 2007.
Hayes, based in Stourbridge, is a long established manufacturer of Precision Tubes in the West Midlands and its activities will complement those of Caparo.
Products manufactured by Hayes include mild steel tube, pre-galvanized tube, aluminised tube and conduit systems. Continuing research and development in the manufacture of precision welded tube has taken Hayes to the forefront of UK tube production. Hayes has always taken an individual approach to the engineering of tube forming and weld mill design resulting in product that is capable of withstanding the most demanding and rigorous applications.
The acquisition of Hayes Tubes is part of Caparo's strategy to consolidate its steel business.
03 July 2007
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