Quality Plastics sold for €30m

Cork firm Quality Plastics, which has plants in White’s Cross and Mallow in Co Cork, has been sold for a figure believed to be in the region of €30m.

The company’s managing director, Gary Horgan, will be staying with the firm, as will commercial director Karen Horgan.

Both will retain their management positions.

The firm, which has 174 employees and was established in 1970, had sales of €42m last year.

The buyer is Pipelife, one of the world’s leading plastic pipes and fittings groups.

The Austrian-headquartered firm operates 30 factories in 29 countries. It has 2,800 employees and had sales of €823m last year.

Quality produces plastic goods for the construction, agriculture and plumbing and heating sectors in Ireland.

The firm is also the leader in the plumbing market in Ireland, specifically for the so called ‘hot and cold’ water solutions.

Hot and cold water systems for plumbing and heating are processed from speciality polymers and complex compounds, which makes them suitable for the replacement of metal in many applications in new constructions and renovations, while ensuring a high level of safety and effortless installation.

They are the fastest-growing segment of the pipes and fittings market in Europe.

It has its own distribution and sales organisation in the UK and exports to several countries in Europe.

Gary Horgan said that with Pipelife, they had found a partner that would be able to accelerate the company’s growth and give it a real international dimension.