J-M Manufacturing Company, Inc. has announced the completion of its merger transaction with PW Eagle, Inc. in which PW Eagle became a wholly-owned subsidiary of J-M Manufacturing. The companies will be collectively known as JM Eagle with 25 manufacturing plants in North America and a workforce of approximately 2,300 employees.
J-M Manufacturing paid $33.50 in cash for each share of PW Eagle common stock, for a total acquisition price of approximately $400 million.
“This merger brings together two outstanding companies with complementary strengths to enable a new and unprecedented level of customer service,” said Walter W. Wang, president and CEO of JM Eagle.
JM Eagle’s first priority is to implement a smooth transition and integration of the two companies that in a manner that is completely transparent to its customers.
“We will continue educating our various constituencies about the vital role that plastic pipe can and will play not only in delivering life’s essentials, but in improving and maintaining health and quality of life throughout the world,” said Wang.