Chemicals company Henkel (Düsseldorf, Germany) has signed an agreement to acquire Aislantes Nacionales S.A. (Santiago, Chile), a major player in the Chilean tile adhesive and building materials market.
The privately-owned Chilean company specializes in the manufacturing and marketing of a wide variety of products in the building materials market. The portfolio includes ceramic tile installation systems, mortars for finishing floors and walls, elastic sealants, and insulation systems.
In the 2017 fiscal year, the company — which employs ~220 people at a local production site — generated sales of about €80 million. According to the chemicals group, the transaction is in line with a strategy by the company to strengthen its portfolio through targeted investments.
“With acquiring Aislantes Nacionales S.A., we will enter the attractive Chilean building materials market in a strong position,” says Jan-Dirk Auris, an executive vice president responsible for the company’s adhesive technologies business. “The strong brands and technologies, as well as the well-positioned portfolio, will further strengthen our position in Latin America.”
Financial details of the transaction were not disclosed. The acquisition is subject to customary closing conditions, including regulatory approvals.
Source: Henkel, www.henkel.com.