Great Britain/Brazil. The global chemicals company, Elementis, announced that it has reached an agreement to acquire, through its subsidiary Elementis Holdings Limited, the Brazilian additive firm Watercryl Quimica Ltda ('Watercryl').
The British multinational revealed that the acquisition had a cost of US $ 24 million and for them, this business means increasing their presence in the Latin American market and providing a platform for their specialty line, in order to accelerate growth in the region.
Watercryl was founded in 1993 and is headquartered in São Paulo. During the last twelve months (until May 31, 2012), the company had sales of about US$9.3 million and an Ebitda of US$2.3 million.
As reported by Elementis, the business is expected to close during the second half of this year.
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