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GTM to Acquire High Chem Specialties & Expand its Footprint in Mexico

Published on 2016-07-13. Author : SpecialChem

Mexico D.F., -- GTM Holding, S.A. (GTM) has agreed to acquire a majority ownership interest in High Chem Specialties in Mexico. High Chem Specialties, a distributor of specialty chemicals, primarily serves the domestic Mexican market with a range of services in the graphic arts, construction, coatings, plastics and adhesives industries, amongst others. The transaction is expected to close in the third quarter of 2016, subject to regulatory clearances. Terms of the agreement were not disclosed.

“The acquisition of High Chem Specialties supports our vision of creating a leading regional platform for GTM’s integrated and innovative solutions and services in the Americas”, explained GTM’s Chairman and Chief Executive Officer, Michael van Marle. “In addition to expanding our footprint with more service centers in Mexico, High Chem Specialties has an expertise in application and formulatory services that can be applied to other markets where GTM has a presence.

“For more than 20 years, our dedicated employees have worked to build a business that represents quality service in Mexico” said Eduardo Salinas, President and Managing Director of High Chem Specialties. “As we look ahead to the future, it is clear that GTM will provide a platform that will allow us to focus on the success of our customers, create growth opportunities for our suppliers and employees and implement our expansion plans into other regions and industrial sub-sectors. I am excited to partner with GTM to continue to grow this leading distribution company.”

About GTM
GTM was founded in 1983 in Guatemala. Since then, it has grown organically to become the second-largest chemical distributor in Latin America and one of only two chemical distribution companies with a fully Pan-American footprint. GTM provides chemical products and logistical services to more than 10,000 customers in a range of industries from personal care to oil exploration through its 43 locations in 12 countries from Mexico to Argentina and its supply offices in United States and China, as well as its exclusive commercial representations in India and South Korea.

About High Chem Specialties

High Chem Specialties is one of the most recognized distribution companies in the specialty chemicals industry in Mexico. It sells chemicals and provides technical support of both domestic and international producers, focusing on specialties. The company is a representative and distributor of prestigious multinational chemical companies. High Chem Specialties serves the Mexican market, also exporting to Central America and the Caribbean from its four facilities in Mexico DF, Guadalajara, Monterrey and Tijuana, as well as warehouses in Veracruz, Merida, Chihuahua and Leon.

Source: GTM
 


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