FlexSteel Pipeline Technologies acquires MagFlex Connections

FlexSteel Pipeline Technologies, Inc., manufacturer of steel reinforced flexible pipe, has announced the acquisition of MagFlex; a joint endeavour with Magnum Precisions Instruments to manufacture and produce FlexSteel connections. The acquisition is effectively immediately.

MagFlex produces custom and standard flexible pipe fittings in its 24 000 ft² manufacturing facility in Houston, TX.

Through this acquisition and further Research & Development investment, FlexSteel will be able to produce these highly specialised components in-house, allowing it to more quickly deliver a wide variety of complete pipeline solutions for its customers. In addition, it enables FlexSteel to invest even more in R&D to further enhance the technology of its product.

“This acquisition is an important step in our strategy to expand our pipeline solutions offering, and to secure more of our critical supply chain,” said Tom Ferguson, CEO FlexSteel.

“MagFlex is a natural and strategic fit within our product offering, and will help us deliver a more comprehensive pipeline solutions portfolio,” Ferguson continued.

MagFlex will be fully integrated into FlexSteel’s operational structure and will now be referred to as the FlexSteel Connections product line.

Houston-based FlexSteel pipe couples the durability of steel with the installation, performance and cost benefits of spoolable pipe products.

Adapted from press release by Elizabeth Corner. 

Read the article online at: https://www.worldpipelines.com/business-news/02072013/flexsteel%C2%AC%C2%AC_pipeline_technologies_acquires_magflex_connections_367/