PORTO ALEGRE, Brazil—Datwyler Holding A.G. has agreed to acquire BINS Industria de Artefatos de Borracha Ltda. in a deal that is expected to enhance the automotive presence of its Sealing Solutions division.
The firm said that the addition of BINS will close a key geographical gap in its automotive segment, giving it production plants in all "relevant" markets.
Datwyler said both parties have agreed not to disclose the purchase price. The deal is subject to the usual conditions for completion and projected to close on Aug. 31.
Family-owned and founded in 1953, BINS has extensive experience in developing and manufacturing elastomer seals for the automotive industry, Datwyler said. BINS also makes its own molds and operating a mixing facility.
BINS also operates in the spare parts business with imported commercial products and produces other sealing components for the industrial segment. The firm employs about 350 people at its facility in Porto Alegre with annual revenue of about $20.4 million.
Datwyler said it intends to utilize BINS' distribution network to offer both auto makers in Brazil and existing customers in South America its full range of products, including O-rings and thermoplastic and silicone components.