GSE Environmental Announces Agreement to Acquire Certain Assets of Poly-America, L.P. and Poly-Flex, Inc. Acquisition of Equipment for Capacity Expansion
HOUSTON, March 20, 2012 /PRNewswire/ -- GSE Holding, Inc., (NYSE: GSE) the leading global manufacturer and provider of geosynthetic lining products and services, announced today the purchase, by one of its subsidiaries, of certain manufacturing equipment from Poly-America, L.P. and Poly-Flex, Inc., for $7.5 million.
"We believe this equipment purchase will contribute toward achieving our growth objectives and remove competitive capacity from our North American market," said Mark Arnold, GSE President and CEO.
About GSE ENVIRONMENTAL
GSE is a global manufacturer and marketer of geosynthetic lining solutions, products and services used in the containment and management of solids, liquids, and gases for organizations engaged in waste management, mining, water, wastewater, and aquaculture.
GSE has a long history of manufacturing quality geosynthetic lining systems and developing innovative products. The company's principal products are polyethylene-based geomembranes, geonets, geocomposites, geosynthetic clay liners, concrete protection liners and vertical barriers. GSE manufactures products primarily to line or cap hazardous and non-hazardous waste landfills; contain materials generated in certain mining processes; and contain water, liquid waste and industrial products in ponds, tanks, reservoirs, sewers, and canals. Headquartered in Houston, Texas, USA, GSE maintains sales offices throughout the world and manufacturing facilities in the United States, Chile, Germany, Thailand and Egypt.
About Poly-America, L.P. and Poly-Flex, Inc.
Poly-America is part of a group of privately-held corporations, including Poly-Flex, Inc, headquartered in Grand Prairie, Texas. Poly-America produces several product lines, all within the polyethylene family.
To learn more about GSE Environmental, please visit http://www.gseworld.com.
This press release contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These statements may include words such as "anticipate," "believe," "may," and other words and terms of similar meaning, including in connection with any discussion of the timing or nature of future financial performance or other events. Such forward-looking statements are subject to certain risks and uncertainties, as disclosed by GSE from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, GSE's actual results may differ materially from those indicated or implied by such forward-looking statements. Except as required by law, GSE disclaims any obligation to publicly update such statements.
Global Director of Marketing
SOURCE GSE Holding, Inc.