WEG announces acquisition in industrials coatings segment
Stardur complements WEG’s coatings business unit portfolio
WEG S.A. (Bovespa: WEGE3 / OTC: WEGZY) announces acquisition of Stardur Tintas Especiais Ltda., a company specialized in manufacturing and marketing of coatings.
Stardur operates in coatings such as high and low solids, engineered plastics, water soluble, coil coating and automotive repainting segment, complementing WEG’s coatings business unit product portfolio. With 250 employees and10,000 square metersarea in Indaiatuba, State of São Paulo, Stardur recorded net revenues of approximately R$ 78 million in 2011.
“This acquisition strengthens our expertise in high technology products for industrials applications, complementing our products line. Moreover, with Stardur we enter in the automotive repainting market, which will allow us to further diversify our customer base and expand our distribution of capacity”, explains Reinaldo Richter, WEG Tintas Managing Director.
Leader in the Brazilian powder coatings market, WEG Tintas also manufactures and markets liquid, anti-corrosive and marine application coatings for different market segments, as oil & gas, chemical and petrochemical, shipbuilding and offshore, auto parts and appliances. Founded in 1983, with headquarter in Guaramirim (SC) and units in Mauá (SP), Cabo de Santo Agostinho (PE) and Buenos Aires in Argentina, WEG Tintas has more than 600 employees.
Please, see here the Release sent today
Please, see here the Notice to the Market sent today