Group Tessenderlo is moving into the Latin American profiles market with its purchase of a 28 percent stake in Brazilian producer Medabil Plasticos Ltda.
The Brussels, Belgium-based chemical company plans to buy as many as 20 new PVC profile extrusion lines for Medabil, according to Christian Vrebosch, Tessenderlo finance director.
Medabil, run by the Bilibio family, is a leading producer of folding doors, drop-ceiling and roller-shutter profiles in Brazil, but so far does not manufacture window profiles. The firm expects to achieve 1998 sales of about $26 million, according to Tessenderlo.
Porto Alegre, Brazil-based Medabil was founded in 1991 and employs 290.
Under the deal, arranged in early December, Tessenderlo may raise its stake in Medabil to 50 percent within five years.
``The growth of Medabil Pl sticos has been spectacular and is anticipated to continue. The addition of window profiles to its range, with technology provided by Tessenderlo and its subsidiaries, will accelerate this growth,'' Tessenderlo announced.
In the United States, Tessenderlo runs Chelsea Building Products Inc. of Oakmont, Pa. In Canada, it has a 50 percent share in Extruco Ltd. of Jonquiere, Quebec.
In Europe, the company has window profile subsidiaries in France, Belgium and Britain. Tessenderlo's first step into Latin America's profile business is part of a plan to become a leading world player in the sector. The group also extrudes pipe profiles in Europe.
Tessenderlo reported annual sales for 1997 of 61.5 billion Belgian francs ($1.8 billion), which should grow to 65 billion francs ($1.89 billion) in 1998, Vrebosch said.