US Osterman acquires Costa Rican plastics distributor Quimtec
ICIS News : 22-Feb-13 17:21
MEDELLIN, Colombia (ICIS)--Thermoplastic resins distributor Osterman has acquired Costa Rican distributor Quimtec for an undisclosed sum, the Connecticut-based firm said on Friday.
Quimtec was the exclusive polyethylene (PE) distributor in Central America for chemical major LyondellBasell.
It will operate as a subsidiary of Osterman’s Latin American polymers division, Osterman said.
“This acquisition will solidify our position as a leading plastic resin distributor in the Americas,” said Osterman president John Dwyer.
Osterman distributes commodity and engineered thermoplastics resins for a number of companies including Aquafil USA, Celanese, Nova Chemicals and Phillips 66.
“While the Americas are a key focus, we are continuing to penetrate our other key strategic global markets as well as looking for acquisitions that complement our business,” Dwyer said.
By Simon West