Bostik acquires Brazilian construction adhesive firm
Bostik, a Wauwatosa-based adhesive and sealant business, has acquired Usina Fortaleza, a manufacturer of tiling adhesives for the construction industry in Brazil.
The acquisition is aligned with Bostik’s strategy to expand in fast-growing regions. Usina Fortaleza will maintain its independent management with Sergio Moutinho, Jr. remaining at the helm.
Bernard Pinatel, chairman and CEO of Bostik, cited Usina Fortaleza’s strong local presence and successful track record. Usina has been in business for 43 years.
In 2010, Moutinho had announced an ambitious investment plan based on his conviction that demand for adhesives for the construction industry would increase in light of booming infrastructure and housing needs.
Bostik is a subsidiary of Total, one of the world's largest oil and gas companies.
Usina Fortaleza has 270 employees, with projected 2012 annual sales of $125 million.