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PAREX GROUP ANNOUNCES TWO MAJOR INTERNATIONAL ACQUSITIONS

PAREX has announced two significant acquisitions, one in Brazil and the second in Vietman, which will provide access to new product streams and boost the group’s global presence in construction markets. In Brazil, Parex has acquired specialist waterproofing solutions, sealants and adhesives specialist Quimicryl. Based in Sao Paulo, Quimicryl has more than 50 employees and its own chemical production facility in Cotia.

PAREX has already a significant presence in Brazil, with more 8 plants and more than 300 employees. It is a national leader in tile-setting solutions. Commenting on the transaction, Eric Bergé, CEO of PAREX, said “We are extremely pleased to expand our position in Brazil to the segment of waterproofing and technical solutions. The Quimicryl team brings industry-leading technical expertise. Combined with our large international portfolio of products and technologies, we will offer new exciting solutions to the construction community in Brazil.”

In Vietnam, Parex has taken a a controlling interest in the shares of A&P Construction Chemical JSC. Known locally under its brand “Mova”, it was founded in 2007 by the A&P group. Based in Hanoi, it has currently 55 employees and an integrated drymix production facility.

Mova is a rapidly-growing brand in mortars, waterproofing solutions and tile-adhesives. It services contractors and distributors, with a market leading position in the North of the country. Vietnam is one of the fastest growing markets in Asia and globally within the top 5 consumers of Ceramic tiles.

Both interests have been acquired for undisclosed sums.