Mexico City, Mexico — Mexican company Rotoplas has acquired another company, this time in Argentina.
Grupo Rotoplas has announced it has reached a preliminary agreement to acquire 100 percent of the capital stock of IPS SAIC in Argentina.
This acquisition will be financed 100 with Rotoplas’ own resources. The transaction is expected to conclude during the second quarter of 2018.
The CEO of Rotoplas, Carlos Rojas Mota Velasco, said that “This acquisition confirms Rotoplas’ commitment to consolidate its portfolio of individual solutions in Argentina with leading brands and technologies.”
IPS SAIC is oriented to the production of plumbing accessories, boilers for heating and hot water, PVC taps for sanitary installations, stainless steel pipes for sanitary and heating installations, polypropylene pipes with thermofusion connection for water distribution, pipes, polypropylene pipes for cold or hot water and PVC pipes for sewage drains.
They are considered the main exporter of the industry to 35 countries.
In July of 2016, Grupo Rotoplas completed the purchase of 80 percent of Soluciones y Tratamiento Ecológico (Sytesa), a Mexican company dedicated to the design, construction, financing, operation and maintenance of water treatment and recycling plants for the commercial segment.
In May of 2017, Grupo Rotoplas acquired 52.7 percent of the voting shares of the Canadian innovation center Sanzfield Technologies Inc. for an approximate amount of 44.8 million peso.
Rotoplas is a Mexican company that has been in operation for 36 years. They have eight plants throughout the country.