The deal includes the acquisition of a manufacturing plant, fixed assets and property in Meyerton, which will enable the company to manufacture High Density Polyethylene (HDPE) pipes up to 1000mm in diameter for the mining, infrastructure, agricultural and industrial markets. This will be Rare's first venture into manufacturing HDPE pipes.
Rare has also appointed Tony Dean, a very well-known plastic pipe industry leader, as MD of the new pipe manufacturing division, which will trade under the name Rare Plastics. Dean previously managed some well-known plastic pipe businesses in South Africa and Botswana, and comes with over 30 years' industry experience.
According to the CEO of Rare Holdings, Wally van Coller, this acquisition will improve Rare's competitiveness in offering piping solutions to the industry by supplying a turnkey service ranging from manufacturing through installation and maintenance.
Rare's main activities will remain in Kliprivier while Rare Plastics will manufacture HDPE pipes in Meyerton. Rare will shortly officially launch the products from Rare Plastics.
