FOR IMMEDIATE RELEASE
Hilliard, Ohio – December 01, 2009: As a part of the ongoing commitment to growth in the underground storm water market, effective November 23, 2009, Advanced Drainage Systems, Inc. (ADS), has agreed to acquire the remaining 50% interest in StormTech LLC.
StormTech was created as a 50/50 joint venture between ADS and Infiltrator® Systems Inc. to engineer and manufacture chambers for use in underground storm water retention/detention systems. Since inception, StormTech has become the market leader in the retention/detention market.
StormTech chambers are highly engineered to meet the rigorous demands of subsurface storm water management, and provide optimal underground detention for storm water runoff. This product represents one of the most cost-effective subsurface storm water management solutions with thousands of systems already installed.
"This significant investment in a proven, patented technology is part of our ongoing mission and commitment to growth in the storm water management industry." Joseph Chlapaty, Chairman and Chief Executive Officer of ADS said. "The StormTech chamber line is a classic example of groundbreaking technology, and one in which we see tremous growth opportunity, both domestically and internationally. As the industry leader, this was a logical next step to help us meet our strategic growth objectives. No other company offers the vast array of storm water management products coupled with the engineering and sales support to back them up."
According to ADS, the StormTech product line has seen tremous growth in recent years, thanks in part to its ability to bring a new level of practicality and efficiency to subsurface storm water storage applications. The SC-740 and SC-310 chambers have provided an economical solution to storm water management for the past several years, and the newly introduced MC-3500 is proving to be an immediate success as the larger capacity reduces footprint and related excavation costs. This summer, StormTech will launch an additional new product, the MC-4500 which will further expand the cubic feet of storage capacity per chamber. StormTech chambers are designed for easy, cost-efficient transport and storage.
StormTech is currently the only manufacturer to produce chambers in adherence with nationally recognized ASTM standards. Additionally, StormTech chambers have been subjected to advanced in-ground testing protocols and high-level industry expert review. They have been evaluated to support HS-20 live loads following current AASHTO procedures for loads, structural capacity and factor of safety when installed per StormTech''''s Chamber Installation Instructions. StormTech chambers are molded from polypropylene resin, which is inherently resistant to chemicals typically found in storm water runoff.
We welcome StormTech into the ADS family.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc. (ADS) is the world''''s largest producer of HDPE corrugated plastic pipe. Founded in 1966, it serves the storm water drainage industry through a global network of over 46 domestic and international manufacturing plants and over 22 distribution centers. In addition to its flagship N-12® pipe, the company offers a complete line of fittings and other accessories including Nyloplast® drainage structures and various geotextiles. To learn more about ADS, log on to www.ads-pipe.com, or call 800-733-7473.
For more information, please contact:
Ms. Tori Durliat
Director of Marketing
401 Olive Street, Findlay, Ohio 45840