BRUSSELS, BELGIUM (Jan. 10, 12:30 p.m. ET) — Belgium-based Aliaxis SA, one of Europe’s largest pipe manufacturers, is expanding business in Latin America by acquiring Chilean firm Vinilit SA.

Under the terms of the deal, Aliaxis increased its share in Santiago-based Vinilit from 40 percent to 100 percent to take over the company. Financial details were not disclosed.

An Aliaxis spokesperson said the company made the acquisition as it is “continuously looking for opportunities to strengthen its position in the plastic fluid handling industry, specifically in growing economies.”

In 2011, 15 percent of Aliaxis’s sales originated from Latin America, more than the 13 percent from Asia, Australasia and Africa combined, the spokesperson told European Plastics News.

Vinilit manufactures PVC, polypropylene and high density polyethylene piping, connectors, water systems and valves, and is the leader in Chilean plastic fluid handling systems, according to Aliaxis.

Aliaxis has been in the Latin American market since 2007 when it acquired the Durman Esquivel Group, based in Costa Rica.