Artecola announces new Mexican acquisition
18/09/2008
The Artecola Group, of Campo Bom, Brazil, has purchased 100% of the adhesives division of Probst S.A. de C.V., one of Mexico's main adhesive producers and a company that has been in operation for 49 years.
"Mexico is a strategic market for our growth targets," said Eduardo Kunst, executive president of Artecola, on announcing the news. "This acquisition is the largest we have made so far outside Brazil. We pursue our target to reach $300 million in net profits by 2010."
"Mexico is a strategic market for our growth targets," said Eduardo Kunst, executive president of Artecola, on announcing the news. "This acquisition is the largest we have made so far outside Brazil. We pursue our target to reach $300 million in net profits by 2010."
"México is the second largest economy and the second largest market for adhesives in Latin Americam," Mr Kunst highlights. "For this reason, it is extremely important for Artecola's projects and occupies a strategic position in our international expansion plan."
The new acquisition, the group's sixth in less than two years, will increase its workforce by 120 to 1,320 employees. Artecola has industrial units in Brazil, Chile, Argentina, Peru, Colombia and Mexico.
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