HARVEY, Ill., June 22, 2022--(BUSINESS WIRE)--Atkore Inc. (the "Company" or "Atkore") (NYSE: ATKR), today announced that it has acquired United Poly Systems, a manufacturer of High Density Polyethylene (HDPE) pressure pipe and conduit, primarily serving telecom, water infrastructure, renewables, and energy markets (www.unitedpolysystems.com/).
"We are pleased to complete the acquisition of United Poly Systems, which strengthens Atkore’s product portfolio, expands our manufacturing capacity and further enables us to meet HDPE customers’ needs," stated John Pregenzer, President of Atkore’s Electrical business. "HDPE pipe and conduit is a growing market that is expected to benefit from U.S. infrastructure legislation, and United Poly Systems is a great addition to Atkore. We welcome these employees and look forward to working together to continue to serve and support our customers."
Bill Waltz, Atkore President and CEO, added, "The acquisition of United Poly Systems advances our objective announced in November 2021 to deploy more than $1 billion in cash toward capital expenditures and other organic investments, M&A and stock repurchases over the next two to three years to drive growth and enhance value for shareholders. United Poly Systems exemplifies our approach to acquiring strong businesses in key end markets that will enable us to maintain and expand our leadership position in the marketplace."
The Company notes that United Poly Systems is the Company’s fourth acquisition in Fiscal Year 2022, and over the past six months, the Company has deployed more than $250 million dollars towards M&A.
United Poly Systems has manufacturing locations in Springfield, Missouri, and Albuquerque, New Mexico with approximately 160 employees. It will continue operating at both locations. United Poly Systems was previously owned by Industrial Opportunity Partners, an operations-focused private equity firm based in Evanston, Illinois.
Atkore is forging a future where our employees, customers, suppliers, shareholders and communities are building better together – a future focused on serving the customer and powering and protecting the world.
With a global network of manufacturing and distribution facilities worldwide, Atkore is a leading provider of electrical, safety and infrastructure solutions.
To learn more, please visit at www.atkore.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220622005857/en/
Lisa Winter Vice President - Communications Atkore Inc. 708 225-2453
John Deitzer Vice President – Investor Relations & Treasury Atkore Inc. 708 225-2124
Homeowners beware. But don't panic, either.
On Wednesday, the Fed bumped up interest rates again, its third 75-basis point hike since June, and signaled that there could be two more such hikes by the end of this year. The conventional wisdom has the Fed acting properly, and aggressively, in an attempt to counter inflation raging at 40-year high levels. But conventional wisdom isn’t always right – and we can learn a lot by consulting the contrarians. Few top investors are more contrarian than Cathie Wood. The founder and manager of ARK Inv
KEY WORDS “I think we’re giving Powell too much praise. … The last two years are one of the biggest policy mistakes in the 110-year history of the Fed by staying so easy when everything was booming.
And what it means for your wealth-building options.
You have just a few weeks to pounce on Treasury I bonds' sky-high interest rate. Also called Series I savings bonds, their interest rate is 9.62%.
The shipping company has developed a reputation as one of the best dividend stocks around
“We printed up too much money, and just thought the party would never end,” Icahn said, adding that with the Fed raising rates to fight inflation, "the party's over."
Warren Buffett’s long-term investment strategy has proven to be successful through virtually all market conditions over the past several decades – recession, high inflation and deflation. If there’s one thing that’s made Buffett one of the most successful investors in history, it’s his commitment to his strategy. A countless number of new investment techniques and algorithms have come and gone over the years, but Buffett has maintained his relatively simple strategy of picking solid companies an
Crypto markets are down sharply after Fed Chair Jerome Powell and JPMorgan CEO Jamie Dimon both voiced regulatory concerns earlier this week.
(Bloomberg) -- Next week’s elections in Brazil pose a challenge to Petrobras investors. Former President Luiz Inacio Lula da Silva, the front-runner, has vowed to use the company as a vehicle for national development. Incumbent Jair Bolsonaro, who’s fighting for a come-from-behind upset, is proposing the complete opposite, with plans to privatize the state-run giant.Most Read from BloombergBank of England Says Paper Banknotes Only Good for One More WeekRisk Assets Crushed With Few Signs Drama Is
At a companywide all-hands meeting this week, Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) chief Sundar Pichai juggled tough questions from employees regarding cuts to travel and entertainment budgets, managing productivity, and potential layoffs. Employees questioned why Google is "nickel-and-diming employees" by cutting travel and swag budgets despite record profits and substantial cash reserves as it did after the pandemic. Pichai emphasized acting responsibly to tide through such critical sit
In this article, we will look at the 4 stocks billionaire Leon Cooperman is talking about right now. If you want to skip reading about Leon Cooperman, his investment career, and his stock-picking strategy, you can go directly to Billionaire Leon Cooperman is Talking About These 2 Stocks. Leon Cooperman’s Investment Career Leon Cooperman is […]
Workers questioned Google execs earlier this year after the company's 'Googlegeist' survey results came out.
Multiple insiders secured a larger position in Intel Corporation ( NASDAQ:INTC ) shares over the last 12 months. This...
Forget everything you think you know about the relationship between interest rates and the stock market.
LONDON (Reuters) -Britain's new finance minister Kwasi Kwarteng unleashed historic tax cuts and huge increases in borrowing on Friday in an economic agenda that floored financial markets, sending sterling and British government bonds into freefall. Kwarteng scrapped the country's top rate of income tax, cancelled a planned rise in corporate taxes and for the first time put a price tag on the spending plans of Prime Minister Liz Truss, who wants to double Britain's rate of economic growth. Investors dumped short-dated British government bonds as fast as they could, with the cost of borrowing over five years seeing its biggest one-day rise since 1991, while the pound slumped more than 3% against the dollar to levels last seen 37 years ago.
Shares of Carnival (NYSE: CCL), the world's biggest cruise line operator, were sliding today, in line with a broad market sell-off on fears of rising interest rates and a recession. For the third day in a row, stocks sank after the Federal Reserve raised the fed funds rate by 75 basis points, and Fed chair Jerome Powell said the central bank would continue to raise rates to rein in inflation, even if it means rising unemployment and an increased risk of a recession. The slide in the stock market over the last few days seems to reflect investors' view that the chances of a recession have increased, and that's bad news for travel stocks like Carnival, as travel, and vacations like cruising, are especially vulnerable.
Yahoo Finance's Jared Blikre joins the Live show to check out market and sector losses amid today's sell-off, while also looking at meme stocks and the travel industrial.
Word spread quickly yesterday that almost 1.1 million Tesla (NASDAQ: TSLA) vehicles were being recalled. At the morning's lows, Tesla shares were down just shy of 5%. The stock market isn't always efficient, but simple math indicates that the recall isn't the reason Tesla shares have dropped for a second straight day.
Boise, Idaho; Philadelphia; Pensacola, Fla.; Austin; and Reno, Nev.; Minnesota; and Utah are the housing markets with the most buyer pullback, says one home builder.