Specialist chemicals company Elementis said it had completed its purchase of Brazilian firm Watercryl Quimica, giving it a bigger foothold in a rapidly growing market.
Elementis bought the coatings additives company for $24m in cash, in a deal announced in June.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Watercryl generated sales of $9.3m and EBITDA (earnings before interest, tax, depreciation and amortisation) of $2.3m in the year to May 31st.
The company was formed in 1993 and supplies additives to the Brazilian coatings industry, with manufacturing and technical facilities based in Palmital, So Paulo.
-
Divorced? Simple rules to stop your ex claiming inheritance on your estateDivorces are back at pre-pandemic levels leaving lawyers urging separated couples to get their affairs watertight to avoid any nasty disputes after death
-
Is now a good time to invest in Europe?European stocks are undervalued, but experts believe that defence and infrastructure spending could see renewed growth
