Sigma-Aldrich buys Vetec Quimica Fina Ltda
Strengthens position in emerging market of Brazil
Sigma-Aldrich has improved its position in Latin America with the acquisition of all outstanding shares of Vetec Quimica Fina Ltda.
Based in Brazil, Vetec is a leading supplier of high quality specialist chemicals for the academic and industrial markets and provides products that support research, development and manufacturing. The financial terms of the deal were not disclosed. Sigma-Aldrich says it expects the acquisition to be neutral to diluted earnings per share in 2011.
Vetec has more than 3,000 products and more than 30 years of expertise in the technical qualification, purification and packaging of high quality chemicals for laboratory and manufacturing applications. The company has been ISO certified since 2003. It employs more than 200 people at its Xerem location, near Rio de Janiero.
Sigma-Aldrich’s vice president and managing director Eric Green said the acquisition is part of the company’s strategy to continue building a presence in emerging markets and to take advantage of the economies afforded by producing and packaging products close to where customers live.
‘In addition to localising our supply chain, the combination of Vetec and Sigma-Aldrich allows us to broaden our distribution channel in Brazil and to enhance our ability to tailor our products to match the special requirements of the market,’ he added.