TALLINN, Estonia—Wolf Group, a producer of polyurethane foams, joint sealants and breathing facade products, said it has purchased a 40-percent interest in Elasteq do Brasil Ltd.
Elasteq makes waterproofing products at a factory in Brazil, a country to which Wolf Group said its exports have increased tenfold in the past five years.
"The popularity of construction foams has grown significantly within five years," said Wolf Group CEO Jaan Puusaag. He said the share purchase, for an undisclosed sum, is an important strategic step that will further strengthen the Wolf Group positions in the South American market and significantly diversify the portfolio of products offered through waterproofing product development and sales.