Mexico: Imsatec sets up plastic products plant in Tennessee

23 November 2000

Imsa (Industrias Monterrey) through he subsidiary Imsatec, began in Moscow, Tennessee (US) the construction of a plant to produce reinforced plastic sheeting. The company will invest 5 million dollars to construct the new plant, which will be part of Stabilit America Inc. (Glasteel) -- a company Imsatec acquired through Stabilit in 1997. Clariond said Stabilit has a 17-percent share of the U.S. market for translucent and opaque plastic sheeting used by the construction, refrigeration and freight transport industries. He said Stabilit reports around 35 million dollars per year in U.S. sales. IMSA, by the end of next year could begin building a plant in Europe, Imsatec Managing Director Benjamin Clariond Reyes-Retana said. Plans for the plant, which would make translucent, acrylic- coated sheeting, currently are being developed, Clariond said. He said that before beginning work on the project, Imsatec would enter into talks with Uralita, Spain's leading producer of fiberglass, with the aim of forming a partnership. If the talks fail, said Clariond, Imsatec will complete evaluations and analyses for the new plant so that its construction can begin by the end of 2001. "There's a possibility that our competitor (Uralita) will tell us that we should form a partnership; we'll listen if the opportunity arises. On the other hand, we've given ourselves the goal of selling 400,000 square meters and, once we reach it, we'll build our plant," he said.

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