Lubrizol buys Brazil-based coatings technology maker EcoQuimica
In a bid to expand its performance coatings footprint in Latin America, specialty chemicals maker Lubrizol Corporation has acquired Brazil-based EcoQuimica Industria e Comercio Produtos Quimica Ltda., a manufacturer and supplier of coatings technology.
“The acquisition of EcoQuimica will enable Lubrizol to broaden our already comprehensive portfolio on a global basis and provide us a stronger local presence in this market,” said Tesh Gor, vice president and general manager of Lubrizol Performance Coatings. “The combined technologies and knowledge of our two companies will allow us to provide our customers with more comprehensive solutions in both the global and regional markets.
EcoQuimica will now be part of Lubrizol Advanced Materials, reporting into Lubrizol’s Performance Coatings business.
The financial terms of the agreement were not disclosed.
Cleveland, Ohio-based Lubrizol also recently purchased land adjacent to the EcoQuimica facility to support future expansion.
“With the combined property situated in a prime location in Sao Paulo, Lubrizol plans to expand with the addition of a warehousing facility as well an applications and technical services lab,” said Gilson Santos, Lubrizol vice president, Latin America.