Flexible insulation and engineering foams specialist Armacell (Luxembourg; www.armacell.com) has acquired Brazilian extruded PE insulation foams producer PoliPex (Florianopolis; www.polipex.com.br). With a facility in Florianopolis, Santa Catarina / Brazil and approximately 80 employees, PoliPex recorded revenues of approximately BRL 43m (EUR 12m) in 2015.

Armacell said the acquisition strengthens its product portfolio and customer service levels in Latin America, while also helping to support regional OEMs. “With the addition of the PoliPex plant in Florianopolis in southern Brazil, Armacell is well positioned to further develop its manufacturing footprint in Latin America,” it stated.

PoliPex has substantial technology know-how in PE insulation foams and has, historically, achieved solid growth rates and healthy operating margins, said Patrick Mathieu, Armacell’s CEO. “The predicted rebound of the Brazilian economy and the overall construction market make PoliPex an attractive investment for us,” he added.