Specialty resins and polymers producer Eliokem Inc. is making inroads in its quest to get bigger and better.
The company, which has spent millions to expand internally over the last several months, has narrowed down its list of potential acquisitions and is hoping to make a purchase late this year or in early 2008.
``We're looking to grow to support our business, and we're working on several projects,'' said Olivier Faussadier, director of ventures and technology.
Eliokem, headquartered in Villejust, France, wants to increase its annual rate of growth to the 8-10 percent that it hit last year from the 6-8 percent rate of previous years, he said. He's confident the company can do that in 2007.
Faussadier said at the International Latex Conference that while Eliokem has taken various paths in its quest to find the right acquisition partner, no strict timetable has been set. ``When it happens, it happens.''
The firm would like to get bigger because the product demand is there, he said.
``We've been adding capacity in both the U.S. and Europe to meet that demand,'' Faussadier said. ``In the past we were limiting ourselves and we must capitalize when demand is up. That's when you want to invest to keep your momentum going.''