US-based Lubrizol Corporation, a Berkshire Hathaway company, has acquired EcoQuimica Industria e Comercio Produtos Quimica Ltda., a manufacturer and supplier of coatings technology for products sold into decorative paints, textiles, cement, elastomeric coatings and paper coatings. Headquartered in Paulínia, a municipality in the state of São Paulo, EcoQuimica (formerly under common ownership with Mercia Industria e Comercio Produtos Quimica Ltda.) will expand Lubrizol's performance coatings footprint in the Latin America marketplace.
"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. "The combined technologies and knowledge of our two companies will allow us to provide our customers with more comprehensive solutions in both the global and regional markets.
In addition, Lubrizol recently purchased 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.
EcoQuimica is now part of Lubrizol Advanced Materials, reporting into Lubrizol's Performance Coatings business. This transaction includes all intellectual property, trademarks and customer lists of EcoQuimica. Financial terms of the agreement were not disclosed.
(PRA)
