Colombia. Sun Chemical Group announced that it has acquired the remaining shares held by Inversiones Mundial (Grupo Mundial) in its Colombian joint ventures Tintas S.A. and Sinclair S.A.
With annual sales of more than US$100 million, Grupo Tintas/Sinclair sells printing inks and related graphic arts products primarily for the packaging market in the Andean Region of Latin America, which encompasses Colombia, Ecuador, Peru and Venezuela.
"This acquisition reinforces Sun Chemical's commitment to the printing ink business in the growing Latin American market," said Rudi Lenz, president and CEO of Sun Chemical. "Inks and Sinclair are the market leaders in printing inks and related products in a region where economies are growing. It is our intention to continue operating with the current successful management team and bring our customers the quality products, excellent service and innovative new solutions they expect from us. We look forward to continuing to work together on other businesses with Global Investments (World Group)."
Sun Chemical has had a relationship with Inks and Sinclair for more than 30 years, and Sun Chemical and World Investments have been equal partners in the joint venture, which was formed in 1999 after Sun Chemical purchased Coates Lorilleux.
