WICKLIFFE, Ohio—Specialty chemicals company Lubrizol Corp of Wickliffe said it has acquired a Brazilian company that makes coatings technology for products used in decorative paints, textiles, cement, elastomeric coatings and paper coatings.
Terms of the purchase of the company, EcoQuimica Industria e Comercio Produtos Quimica Ltda., were not disclosed.
EcoQuimica, headquartered in Paulínia, a municipality in the state of São Paulo, “will expand Lubrizol's performance coatings footprint in the Latin America marketplace,” according to a news release.
“The acquisition of EcoQuimica will enable Lubrizol to broaden our already comprehensive portfolio on a global basis and provide us a stronger local presence in this market,” said Tesh Gor, vice president and general manager of Lubrizol Performance Coatings, in a statement.
Lubrizol said it recently bought land adjacent to the EcoQuimica facility to support future expansion.
“With the combined property situated in a prime location in São Paulo, Lubrizol plans to expand with the addition of a warehousing facility as well an applications and technical services lab,” said Gilson Santos, Lubrizol vice president, Latin America, in the release.
EcoQuimica is part of Lubrizol Advanced Materials, reporting into Lubrizol's Performance Coatings business. The deal includes “all intellectual property, trademarks and customer lists of EcoQuimica,” Lubrizol said.