SAO PAULO, BRAZIL — Occidental Química do Brasil Ltda. has acquired Pl sticos Plavinil SA, a SÃŒo Paulo-based manufacturer of calendered PVC films, from Solvay do Brasil SA.
Terms were not disclosed. Solvay do Brasil is a unit of Solvay SA of Brussels, Belgium.
The acquisition makes Plavinil a sister company of Vulcan Material Pl stico SA, a PVC calendering subsidiary of Occidental Química do Brasil, headquartered in Rio de Janeiro. Occidental Química is the Brazilian affiliate of Occidental Chemical Corp. of Dallas.
Mauro de Melo Sampaio, Vulcan commerical director, said the companies began negotiating the deal about nine months ago and finalized the agreement March 25.
For now, Plavinil will continue working under its original trade name, in conjunction with Vulcan.
``We'll take advantage of the best each company has to offer. This means that we will possibly maintain the most up-to-date industrial lines as they are, and also centralize the production of common items, rationalizing costs,'' Sampaio said.
Both firms are active in the automotive market, and supply rigid and flexible films for packaging and printed films. Vulcan also produces synthetic leather, plastic adhesive films, vinyl flooring and credit cards. In turn, Plavinil's product lines include vinyl foils, sheets for credit cards and phone cards, and display signs.
Plavinil has 450 employees and capacity to process about 42 million pounds annually. Vulcan employs 800 and has capacity of about 55 million pounds per year. Last year the firms reported sales of $60 million and $100 million, respectively.