FlexSteel Pipeline Technologies, Inc. acquires MagFlex Connections
HOUSTON,TX, July 1, 2013 - FlexSteel Pipeline Technologies, Inc. (FlexSteel), a leading manufacturer of steel reinforced flexible pipe, is pleased to announce the acquisition of MagFlex; a joint endeavor with Magnum Precisions Instruments to manufacture and produce FlexSteel connections. The acquisition is effective immediately.
MagFlex produces custom and standard flexible pipe fittings in its 24,000 square foot manufacturing facility in Houston, TX. Through this acquisition and further R&D investment, FlexSteel will be able to produce these highly specialized 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 Research & Development 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.
About FlexSteel Pipeline Technologies, Inc.
Houston-based FlexSteel is the pipeline solution primarily used in the oil and gas industry that couples the durability of steel with the installation, performance and cost benefits of spoolable pipe products. Highly corrosion resistant and more durable than other flexible pipe, FlexSteel combines the best features of all currently available pipe options to deliver superior life-cycle performance and value. It is the Next Generation of Line Pipe. For more information about FlexSteel, please visit: www.flexsteelpipe.com