Elementis completes Brazilian deal
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.
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.
The British firm hopes to combine the market positions, technical capabilities and product portfolios of Watercryl and its Specialty Products division to expand sales of Watercryl products beyond Brazil and to accelerate the growth of Elementis products within the country.
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.
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published