May 9, 2013
Future Pipe Industries (FPI) Chairman, Fouad Makhzoumi was appointed on the 1st of May as Honorary Mayor-President of the city of Baton Rouge in Louisiana, USA.
The Honorary Certificate was presented to Mr. Makhzoumi by Mayor-President of Baton Rouge, Melvin "Kip" Holden, in a welcoming ceremony that was held in honor of Mr. Makhzoumi at the Specialty Plastics Inc. (SPI) offices.
In April, FPI announced and as part of its global growth strategy, that it had acquired 100% of the Baton Rouge based, fiberglass reinforced pipe business Specialty Plastics Inc. from ITT Exelis (NYSE: XLS). The acquisition of SPI comes in line with FPI global growth strategy of expanding through both organic growth and acquisition of other complementary businesses which have prominence and demonstrated technical excellence in their own markets. This particular acquisition will further enhance FPI existing manufacturing and sales operations in the US and expand the company's reach within the Oil & Gas sector.
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