Bostik recently announced it has acquired Usina Fortaleza, a manufacturer of tiling adhesives for the construction industry in Brazil. As the new shareholder, Bostik reportedly 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 reportedly in line with Bostik’s strategy to expand in fast-growing regions.
“We are delighted to welcome Usina Fortaleza to Bostik,” said Bernard Pinatel, chairman and CEO of Bostik. “Their strong local presence and successful track record will serve as a solid platform to leverage Bostik’s cutting-edge 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,” Moutinho said. “Usina Fortaleza provides Bostik the opportunity to enter the Brazilian market as one of the top players.”