Benzinga | Jul 6, 2021 07:03AM EDT

Westlake Chemical Corporation's Subsidiary North American Pipe Corporation Announces Acquisition of LASCO Fittings, Inc.

North American Pipe Corporation (NAPCO), a subsidiary of Westlake Chemical Corporation (NYSE:WLK), today announced that it will acquire LASCO Fittings, Inc., a Brownsville, Tennessee-based, leading designer, engineer and manufacturer of injected-molded PVC fittings from Aalberts, NV.

"We are pleased to announce this acquisition," said Andre Battistin, vice president, NAPCO Pipe & Fittings. "By adding LASCO Fittings to our product mix, NAPCO will expand into additional markets, particularly as LASCO specializes in half-inch to four-inch fittings and serves the plumbing, pool and spa, industrial, irrigation and retail markets in the United States. LASCO's product mix is very complementary to our existing range of pipe and fittings products primarily with diameters of four or more inches and will bring additional fittings products to NAPCO's offerings. We look forward to welcoming LASCO's approximately 560 employees to the Westlake family of companies."

LASCO Fittings operates a 48-acre, 500,000 square foot manufacturing and distribution facility in Brownsville, Tennessee, northeast of Memphis. With eight regional distribution facilities strategically located throughout the United States, LASCO can promptly supply its customers across North America.

The proposed transaction is subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, and is expected to close during the second half of 2021.