J-M Manufacturing Company Inc. on June 22 announced the completion of its merger transaction with PW Eagle Inc., in which PW Eagle became a wholly owned subsidiary of J-M Manufacturing. The companies will be collectively known as JM Eagle, and together comprise the world’s largest plastic pipe manufacturer with 25 manufacturing plants in North America and a workforce of approximately 2,300 employees.
J-M Manufacturing paid $33.50 in cash for each share of PW Eagle common stock, for a total acquisition price of approximately $400 million. PW Eagle stock will cease to trade on the NASDAQ Global Market and will be delisted.
“This merger brings together two outstanding companies with complementary strengths to enable a new and unprecedented level of customer service,” said Walter W. Wang, president and CEO of JM Eagle. “JM Eagle is now positioned to offer our customers the greatest breadth of product, the broadest geographic reach, the most cost effective production operations, the highest capacity, and the most comprehensive field sales support team in the industry.”
JM Eagle manufactures the widest array of high-grade, high-performance polyvinyl chloride (PVC) and high-density polyethylene (HDPE) pipe in the industry. The company’s commitment to leadership extends beyond cost, quality and delivery and includes a commitment to advanced technology and innovation in each of its core markets – water and sewage, plumbing, irrigation, electrical conduit and gas distribution.
The combined resources of these two industry leaders also provide an unmatched capability for research and development of new products, new materials, new applications and new processes.
“Our investment in developing state-of-the-art technology has resulted in automated processes and controls that underpin our relentless pursuit of quality and cost improvement,” said Kaushal Rao, director of production at JM Eagle. “It’s a key competitive advantage for JM Eagle, and will continue to be an important priority.”
