Sigma-Aldrich Acquires Vetec Quimica Fina Ltda
Sigma-Aldrich announced it has acquired all outstanding shares of Vetec Quimica Fina Ltda to strengthen the Company's position in Latin America. Based in Brazil, Vetec is a leading supplier of high quality specialty chemicals for the academic and industrial markets and provides products that support research, development and manufacturing. Terms of the purchase were not disclosed. The Company expects the acquisition to be neutral to diluted earnings per share in 2011.
Vetec brings to Sigma-Aldrich® 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. Vetec has built its reputation on superior service and quality and has been ISO certified since 2003. Vetec employs more than 200 employees at its Xerem location, near Rio de Janiero.
Commenting on the acquisition, Eric Green, Vice President and Managing Director, International at Sigma-Aldrich said, "The acquisition of Vetec Quimica is part of Sigma-Aldrich's strategy to continue building a presence in the emerging markets and to leverage the economies afforded by producing and packaging products where our customers reside. In addition to localizing 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."
Source: Sigma Aldrich Corp.