Radius Systems Acquires Redman Fittings Business

Posted: Friday 20th December 2013

Radius Group, the UK's leading supplier of Polyethylene pipes and fittings to the Utilities sector, is pleased to announce that it has purchased the trade and assets of the Redman Fittings business (Redman) from Tricorn Group, the AIM listed tube manipulation specialist, for an undisclosed sum.

Redman produces innovative jointing systems for use typically within the utilities industry and as a result is a perfect complement to the Radius proposition.

Andy Taylor, Radius CEO commented: "Redman is our third bolt-on acquisition this year since the Polyplastic Group takeover in February and is a further commitment to growing the Radius brand. The brand and the product range fit well with our strategy to enhance our value added proposition to our customers and we are excited about the growth opportunity Redman brings to the Group."

Polyplastic/Polymerteplo/Radius Group is the market leader in engineered polymer products in the CIS and the largest producer of polyethylene pipes and fittings in Europe. The Group is the market leader in polymer composite materials supply to the automotive, white goods and building materials sectors in the CIS where it is also the leading manufacturer of District Heating Solutions. The Group operates from 19 plants and exports to more than 50 countries worldwide has an annual turnover of c.1bn and employs in excess of 7000 people. The combined Group is headquartered in Moscow.

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