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Monday, 16 September 2019
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Markets & companies, Raw materials market

Elementis to acquire Brazilian coatings additives company

Friday, 29 June 2012

The acquisition of Watercryl Quimica will increase Elementis's presence in Latin America and provide a platform for its specialty products business to accelerate growth in the region.

Elementis plc buys Watercryl Quimica Ltda for USD 24 million. Source: Viappy – Fotolia.com

Elementis plc buys Watercryl Quimica Ltda for USD 24 million. Source: Viappy – Fotolia.com

UK-based Elementis plc has agreed, through its wholly owned subsidiary Elementis Holdings Limited, to purchase Watercryl Quimica Ltda, a Brazilian coatings additives company, for USD 24 million.

Watercryl was established in 1993 and is a supplier of additives to the Brazilian coatings industry, with manufacturing and technical facilities based in Palmital, São Paulo. The acquisition will increase Elementis's presence in Latin America and provide a platform for its specialty products business to accelerate growth in the region.

Further growth will be driven by combining the market positions, technical capabilities and product portfolios of the two businesses, to expand sales of Watercryl products beyond Brazil and to accelerate the growth of Elementis products in Brazil.

The transaction is expected to close during the second half of 2012.

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