30 March 2011 – Solmax International recently finished an agreement with the Chilean company Industrial Megametal Limitada in order to purchase its subsidiary, Plastecnia S.A., a company specialised in the production of polyethylene pipes and the distribution of hydraulic products mainly for the mining sector of the Chilean market.This acquisition has been carried out through Solmax Chile SPA, a new entity belonging to Solmax International.
Solmax International becomes the owner of a company with annual sales in the range of US$8-10 million and some fifty employees located in its factory of Santiago and its distribution centre of Antofagasta, Chile.
Solmax International’s acquisition of Plastecnia S.A. is part of its plan to grow by increasing its expertise, by reinforcing its presence in South America, and by benefitting from the access to new suppliers of raw materials. As they develop the same markets, and even share certain clients, a strong synergy already unites the two entities. Sharing their expertise will allow the continuing expansion of both organisations under a common vision: together, we will grow.
This acquisition does not affect the operations of the factories of Solmax International in Varennes and Malaysia at all.
For almost 30 years now, Solmax International has been developing its expertise in the field of geosynthetics.
Today, Solmax is a world leader in the production of polyethylene geomembranes and the assembly of PVC panels. From its factories in Varennes and Malaysia, Solmax exports to more than 60 countries. Our goal: to cover the world while protecting the Earth.
Contact
Marc-André Gervais
President
Solmax International Inc.
Tel. : +1 (450) 929-1234
magervais@solmax.com
