13 December 2012 07:55 [Source: ICIS news]
SINGAPORE (ICIS)--Switzerland’s specialty chemicals producer Sika said on Thursday it is acquiring 100% of Paraguay-based construction chemicals maker Inatec, boosting the Swiss firm’s presence in Latin America.
Inatec has manufacturing facilities in Paraguay capital Asuncion and generates annual sales of Swiss francs (Swfr) 7m ($7.53m, €5.79m), Sika said in a statement.
Financial details of the acquisition were not disclosed.
“With Inatec, Sika will gain a leading position in the Paraguayan market and will benefit from the strong growth in the construction industry of Paraguay,” the Swiss firm said.
($1 = Swfr0.93 / €1 = Swfr1.21)
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