Hobas Pipe USA launches $60 Million capital investment program
(UC) — Hobas Pipe USA Inc. (Hobas), the leading North American manufacturer of corrosion-resistant fiberglass pipe products for water and wastewater related infrastructure, announced on Thursday a $60 million, five-year capital investment program that will support the continued expansion of their Houston-based manufacturing facility.
"This investment marks our continued commitment to the infrastructure landscape of North America," Martin Dana, President and CEO of Hobas, said.
Hobas plays a critical role in rehabilitating and replacing aging infrastructure with its corrosion-resistant, 150-year design life products. The company kicked off the program with the purchase and installation of equipment to become the first U.S.-based manufacturer of non-circular fiberglass shapes for the rehabilitation of non-circular sewer systems.
And to-date, Hobas has deployed 60% of the capital to secure technology, equipment, land, and manufacturing infrastructure to support its growth initiatives. The company has also expanded its workforce by 30% and expects total job growth to exceed 45% when the capital program has been fully executed.
While the company has experienced significant growth over the past several years, Hobas's mission remains the same–to ensure today's infrastructure solutions do not become tomorrow's problems. Dana said, "It is critical we educate the community on the longevity of corrosion-resistant fiberglass pipe, its economic advantages, and the cost savings achieved by using Hobas's 150-year design life products."
The remaining capital will be used to further grow the portfolio of products Hobas offers to the water and wastewater infrastructure markets.
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