Brazil. Valspar Corp announced that it has acquired the Brazilian company Isocoat Tintas e Vernizes Ltda, located in São Paulo, Brazil, and that it manufactures coatings used in products for construction, transportation and other markets in general for customers in Brazil, Argentina and Colombia.
With this acquisition, Isocoat will seek to strengthen Valspar's presence in the fastest growing coatings markets in Latin America and improve its degree of technologies for the broader industrial segment.
"The company becomes an excellent strategy and very appropriate for our existing businesses. He will support our service to customers in the region and provide an excellent platform to grow," said Gary E. Hendrickson, President of Valspar and Chief Operating Officer.
Isocoat reported sales of approximately US$34 million in 2010.
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