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Expansion of PROTEX INTERNATIONAL in Columbia

25
May '10
Following the purchase of MACE POLYMERS & ADDITIVES in the United States at the end of 2009, PROTEX INTERNATIONAL pursues its external growth and takes a participation of 75% in the HOLQUIMICA company based in Medellin in Columbia, specialized in chemical products for the textile industry.

Founded in 1932, the French Group PROTEX INTERNATIONAL develops, produces and markets specialty chemicals.

Historically, the activity of the Group is centered on textile auxiliaries which today represents 19% of its activities. PROTEX INTERNATIONAL gradually diversified its chemical products to include other solutions: paints & coatings, electronics, paper, water treatment, perfumes, agriculture, food, fine chemical, whilst developing on an international scale.

In 2009, PROTEX INTERNATIONAL recorded an annual (world) turnover of €100 million, 80% outside of France, with 500 employees in over 20 subsidiaries throughout Europe, the United States and Asia.

The acquisition of HOLQUIMICA marks a new phase in the development of PROTEX INTERNATIONAL, since it is the Group's first presence in Latin America, an important centre for the future which should be a stepping stone to other countries on this continent and an important growth area.

Located in Medellin, the HOLQUIMICA company recorded an annual turnover of $1 million and produces auxiliary products for the textile industry:

• Refining products,

• Colouring agents,

• Print auxiliaries,

• Finishing products,

• Induction joining applications and technical materials …

These auxiliary textile products are manufactured locally in Columbia, and in the SYNTHRON plant in Indre-et-Loire, from where HOLQUIMICA will also import some of its needs.

The two companies intend to exploit a mutual know-how in order to offer a complete and enlarged range of products for the textile industry.

In order to follow the model of PROTEX INTERNATIONAL, HOLQUIMICA will also at the same time diversify its activities in the other activities of the Group: additives for paints & coatings, for paper …

PROTEX INTERNATIONAL enjoys a sound financial position, despite the unfavourable economic climate, and intends to pursue its external growth, in France and abroad, through targeted small-scale acquisitions and a niche strategy, and develop its organic growth by recruiting both Research Engineers and Sales Engineers.

PROTEX INTERNATIONAL


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