Bostik is pleased to announce the acquisition
of Usina Fortaleza, a leading manufacturer of tiling adhesives for the
construction industry in Brazil. Bostik intends to continue the company’s
existing investment program in order to grow at a higher rate and increase its
market share.
This acquisition is in line with Bostik’s
strategy to expand in fast-growing regions. “We are delighted to welcome Usina Fortaleza to Bostik,” affirmed Bernard Pinatel, Bostik Chairman & CEO. “Their strong
local presence and successful track record will serve as a solid platform to
leverage Bostik’s cutting-edge technologies.”
Usina
Fortaleza will maintain its independent management with Sergio Moutinho Jr
remaining at the helm. “We believe in the
Brazilian market and see Bostik as the right company to further develop the
work we have being doing for the past 44 years. Usina Fortaleza provides Bostik
the opportunity to enter the Brazilian market as one of the top players“,
stated Mr Moutinho.
Mr Moutinho announced his ambitious investment
plan in 2010, based on his
conviction that the demand for adhesives for the construction industry would
increase in view of booming infrastructure and housing needs over the next
decade. He was approached by several prospects but decided to explore the
opportunity with the French group.
Usina Fortaleza, founded in 1969,
provides the highest quality adhesives for the construction industry. They have
270 employees and their 2012 annual sales should reach R$ 125 million. The
company has nine distribution centers and three factories, including one of the
most modern of its kind in Brazil, and is planning new plant construction to
expand outside the Sao Paulo region.