Northwest Pipe rises on Utah-based Geneva Pipe acquisition

NWPX Infrastructure

03/02/2020 16:09

** Steel water pipeline-maker's  NWPX.O  shares up 3.8% at
$33.98 after co says it has acquired Geneva Pipe Co, a concrete
pipe manufacturer 
    ** Vancouver-headquartered NWPX says the deal closed on Jan.
31 and was funded with cash on hand and debt  urn:newsml:reuters.com:*:nASA00BK6
    ** Geneva Pipe has around 140 employees and reported revenue
of about $43 mln in 2019
    ** The deal will help NWPX to serve a wider spectrum of the
water infrastructure market - Scott Montross, president and CEO
of NWPX
    ** Shares rose 43% in 2019

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))