Chem-Trend Ltd. has acquired the release agent business of its long-time distribution partner, Rubio Trading & Consulting SRL.
The deal allows Howell, Mich.-based Chem-Trend to continue its growth strategy in Eastern Europe. Chem-Trend SRL was formed with many of the same team that had been servicing polyurethane and rubber release agent customers through Rubio, which is based in Romania.
The firm said Romania continues to attract a high level of foreign investment. Chem-Trend added that acquiring this business will position it to provide greater service to its local, regional and global customer based in what it branded as a "strategically important and rapidly expanding market."
"The addition of this office, along with the many talented and experienced people who have joined us from Rubio, strengthens our commitment to addressing the needs of the local market," Chem-Trend CEO Devanir Moraes said in a statement.
Chem-Trend has a global presence with production facilities on four continents, offices or local representatives in 20 countries, and a distribution network covering more than 50 countries.