Argentina.
With the aim of continuing to expand its presence in the region, the paint manufacturer, Sinteplast announced that it has acquired the Brazilian manufacturer, Tintas Sulan, in a transaction valued at US$3 million.
The acquisition, working capital and new equipment are included in the value of the investment, the company said in an official statement.
Sinteplas now adds its second plant in Brazilian territory with the new facilities located in Sulán, Sao Paulo, since the company has other facilities in Rio de Janaiero, with which the Argentine firm hopes to expand its market in Brazil, which has a total business of paints is estimated at 1,100 million liters per year.
In addition to Argentina, Sinteplast has a presence in Bolivia, Uruguay, Paraguay and of course, Brazil, and its main goal is to increase its share and sales volume.
