According to Xinhua News Agency, Mexico's chemical company Mexichem recently announced that the company has successfully acquired 70% of the shares in Brazil's DVG Plastics Products Co., Ltd. The announcement said that the share purchase was conducted through its subsidiary Amanco Brasil, and the company will also acquire the remaining 30% of the shares of DVG in the next 3 years, eventually reaching full control.
Brazil's DVG company mainly produces PVC plastic water pipes and drainage pipes used in water pipelines, and also produces some products required for construction, farmland irrigation, and power engineering. The company had sales of US$61 million in 2007 and its products are mainly exported to southeast, central and northeastern Brazil. Mexichem company said that this acquisition is beneficial to expand the company's business in Latin America, especially Brazil.
Brazil's DVG company mainly produces PVC plastic water pipes and drainage pipes used in water pipelines, and also produces some products required for construction, farmland irrigation, and power engineering. The company had sales of US$61 million in 2007 and its products are mainly exported to southeast, central and northeastern Brazil. Mexichem company said that this acquisition is beneficial to expand the company's business in Latin America, especially Brazil.
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