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January 07, 2015 01:00 AM

Soudal gets full control of South American JV

Rubber & Plastics News Report
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    SANTIAGO, Chile—Soudal Holdings N.V. completed its fourth acquisition of 2014 in December, acquiring full control of its South American joint venture.

    The firm includes 50 employees and sales of more than $10 million. Soudal did not release financial details of the transaction.

    “The takeover in South America is for Soudal a further step in the implementation of its strategy to be present in all continents with its own subsidiaries and local production units,” Soudal CEO Dirk Coorevits said in a statement.

    The venture was founded in 2005 with its local partner Christensen to develop the Chilean market for sealants, adhesives and polyurethane foams, Soudal said. With a manufacturing facility for adhesives and sealants in Santiago, the venture's headquarters, the firm has grown to operate branch offices in Peru since 2008, Colombia since 2010 and Mexico since 2010.

    The acquisition caps a busy 2014 for Soudal. In February the firm purchased its Australian distributor Soudis Australia Pty.; in June the firm acquired Accumetric L.L.C. and relocated its North American unit Soudal Inc. to Accumetric's Elizabethtown, Ky., facility; and in October Soudal acquired Poland-based Bochem Sp. z.o.o.

    Headquartered in Turnhout, Belgium, Soudal said it employs more than 2,100 and operates 16 production sites in 44 countries on four continents.

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