Vortex Pipes (VTX)

Shares / Stock Code

VTX

Stock Exchange / Sharemarket

ax

Vortex Pipes (VTX), formerly Central Minerals Limited (CME) is involved in the development and commercialisation of a pipe lining system, which can prevent leakage, improve structural integrity and decrease flow friction. The ShieldLiner system has potential applications in water, sewerage, storm water, oil, gas and mining industries. The company was listed on the ASX on 10 August 2004. VTX was renamed to its current name in December 2007.

The ShieldLiner® system lines, seals, repairs and reinforces a pipe in one process step by applying a structural textile liner, generally fibreglass in a resin matrix to bind with the fibreglass liner to form a composite of the old pipe reinforced with the new liner. It does not require the application of significant pressure heads to drive and invert a pre-impregnated sock in the pipe thus saves time, energy, cost and surface space requirements on the job.

Major customers include companies seeking to license the ShieldLiner system and end users of the system such as water authorities and oil and gas companies. Competitors include companies providing traditional forms of pipe lining systems. Its subsidiaries include Premium Pipe Services Pty Ltd and QuickPipes Pty Ltd. On May 8, 2008, the Company acquired 80% of the share capital of QuickPipes Pty Ltd. VTX shares are traded on the Australian stock market.