Mexican materials firm Mexichem SAB de CV has acquired PVC compounder Sylvin Technologies of Denver, Pa., in a $39 million deal.
Sylvin was founded in 1978 and has annual sales of $29 million, making PVC compounds in a broad spectrum of colors and material enhancements for various markets and applications.
In a Jan. 29 news release, officials with Mexichem in Tlalnepantla de Baz said the firm would consolidate Sylvin in the compounds unit of its own vinyl business, which had annual sales of $2.2 billion for the year ended Sept. 30.
Mexichem officials added Sylvin's use of PVC resin, plasticizers and stabilizers should bring synergies to Mexichem's vinyl operations. CEO Antonio Carrillo described the acquisition as "a further step towards downstream integration in specialty products with higher margins that enable sustainable growth."
Compounds unit President Sameer Bharadwaj added the transaction "continues Mexichem's strategy of completing bolt on acquisitions that expand its portfolio of specialty products and applications and give access to new end markets and customers."