Bostik, an adhesive technology company, is pleased to announce the acquisition of Usina Fortaleza, a manufacturer of tiling adhesives for the construction industry in Brazil. As the new shareholder, Bostik intends to continue the company’s existing investment program in order to grow at a higher rate and increase its market share.
This acquisition is in line with Bostik’s strategy to expand in fast-growing regions. “We are delighted to welcome Usina Fortaleza to Bostik,” affirmed Bernard Pinatel, Bostik Chairman & CEO. “Their strong local presence and successful track record will serve as a solid platform to leverage Bostik’s cuttingedge technologies.”
Usina Fortaleza will maintain its independent management with Sergio Moutinho Jr. remaining at the helm. “We believe in the Brazilian market and see Bostik as the right company to further develop the work we have being doing for the past 44 years. Usina Fortaleza provides Bostik the opportunity to enter the Brazilian market as one of the top players“, stated Mr. Moutinho.
Mr. Moutinho announced his ambitious investment plan in 2010, based on his conviction that the demand for adhesives for the construction industry would increase in view of booming infrastructure and housing needs over the next decade. He was approached by several prospects but decided to explore the opportunity with the French group.