Colombia. The Global Paint Company, Pintuco, acquired for a value of US$120 million from the Grupo Kativo, which belonged to the US company HB Fuller and a subsidiary of this in Panama called Chemical Suplí.
The acquisition will allow Pintuco to expand its presence in much of the Central American territory, because Kativo operates in countries in the region such as Panama, Honduras, Costa Rica, Guatemala, El Salvador and Nicaragua.
"Being in Central America allows us to have leadership in the paint business and helps us in the positioning of the company," Ernesto Fajardo, president of the World Group (owner of Pintuco) told the newspaper La Nación of Costa Rica.
Kativo recorded sales of US$113.5 million in 2011 and joins the acquisition of Vastalux, made the previous year by the Colombian firm.
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