08 April 2005
08 April 2005
Reichhold has acquired the unsaturated polyester resins business of Indústria Brasileira de Resinas, Ltda. (IBR).
This acquisition increases Reichhold’s Brazilian composites business by approximately 20 percent, strengthening the company’s position as the leading supplier of polyester resins for composites in the region. It also gives Reichhold a manufacturing and commercial base in the northeastern part of the country which will provide customers there greater access to both IBR and Reichhold.
“We are very pleased to bring the IBR business into the Reichhold organization,” said Reichhold’s Executive Vice President of Global Composites, Doug Frey.
“This initiative is in line with our long-term growth strategies and was made possible by the strong performance of Reichhold’s Brazilian composites business in 2004,” he continued. “The IBR acquisition is a reflection of our confidence in the future of that business.”
IBR is located in Simões Filho, in Brazil’s state of Bahia, 1,500 kilometers (932 miles) from Reichhold’s operations in Mogi das Cruzes, SP (state of São Paulo). The plant is positioned near a large petrochemical manufacturing complex in northeastern Brazil.
“This area of Brazil is growing rapidly,” Frey explained. “Our acquisition of IBR in this strategic region will allow us to continue our growth as the leader in the Brazilian unsaturated polyester resin market.”
Along with a second manufacturing site in Brazil, the acquisition brings 27 IBR employees into the Reichhold organization. Reichhold made its initial foray into the Brazilian market with the acquisition of Resana S/A in 1996.