Allnex acquires Águia Química, one of Brazil’s largest manufacturers of resins
Allnex today confirms the acquisition of Águia Química, one of the largest manufacturers of alkyd and acrylic resins in Brazil. The addition of Águia Química’s employees together with further investments at the Ponta Grossa site further expands the products and technologies offered to customers of both companies in the region.
Founded in 1989, Águia Química is a Brazilian market leader in alkyd and acrylic resins for the production of paints, composites, adhesives and abrasives and in the distribution of solvents. Commenting on the news, Frank Aranzana, CEO of Allnex said, “The acquisition of Águia Química, which is well established in the region, will enable us to complement our existing Liquid Resins and Additives and Crosslinkers businesses, and produce our products closer to our customers. We firmly believe that this acquisition will enable us to better serve our customers, not only in Brazil, but region wide.”
Águia Química employees will continue to focus on delivering their wide range of products and technologies, operating under the name “Allnex Brazil”. Águia Química’s President (CEO) Mauricio Scheffer stated, “This is a positive move for Águia Química, with employees becoming part of a global firm, enabling the facility to extend our products and knowhow to even more customers, locally and throughout the region. Together, Allnex and Águia Química can become the leaders in the Latin American market.”
Allnex is committed to further investment at the Ponta Grossa site to create a manufacturing platform which will meet evolving market needs, while Águia Química’s award‐winning dedication to quality will continue to be a priority for the future.
The acquisition agreement was closed last week, 29 December 2014.