Uruguay. Sinteplast Uruguay announced the acquisition of paint manufacturer Elbex, whose operation is in charge of Behar and Cia.
This operation will allow Sinteplas to position itself as the second most important paint manufacturer in the South American country, exceeding 20% market share, according to an official statement from the company.
"This acquisition will allow us to continue on the path of constant growth, increasing the volume and participation in Uruguay that constitutes a key market for the development of our company. In this new stage we will seek to consolidate this strong national brand," said Claudio Rodríguez, director of Sinteplast.
"Sinteplast in Uruguay began its activities in 1993 and maintains a sustained growth that currently positions it with 13% of the market. In the beginning, only paintings were imported from Argentina, and thanks to the construction of a very modern plant inaugurated in 2012, today it produces locally almost all the products marketed in the country, "said Andrés Bódega, director of Pinturas del Plata.
It is important to note that Pinturas Elbex will remain an independent business unit within the Structure of Sinteplast and will be given continuity to the product portfolio, as well as to the structure and commercial policy.
The acquisition comes as part of an expansion plan for Sinteplast, which also includes the recent acquisition of the Polacrín brand in Argentina and investment projects in its Ezeiza production plant.
Source: www.elobservador.com.uy
