SOUDAL strengthens its position in the glass industry

SOUDAL Company announces the acquisition of the company TENACHEM (Latvia) - the leading manufacturer of sealants for the production of double-glazed windows. Thus the company has expanded its SOUDAL and so inspiring product portfolio. In TENACHEM work 73 employee and 95% of production is exported to 40 countries.TENACHEM company was founded 24 years ago and today is the largest manufacturer of sealants in the Baltics and one of the leading manufacturer of sealants for insulating glass mass in Europe, providing its products to many international glass companies. The company occupies a leading position in the market thanks to the research and development of advanced production equipment and is located in Dobele (80 km from Riga). Among highly developed export, the main focus of which is the country's North-Eastern Europe.

TENACHEM continue its work under its own name as a subsidiary of the Group SOUDAL. The company's management TENACHEM remains at the helm. Being a family business, a Latvian company merges perfectly into the culture of the Group SOUDAL, where priorities are customer satisfaction and growth through innovation. The acquisition will not affect the structure of employment TENACHEM and other institutions holding.

For a company SOUDAL this acquisition is an opportunity to further expand the technical capabilities in this market segment. TENACHEM information and become an important manufacturing center in the industry in which the Belgian holding company expects its growth in the coming years, and will continue to develop as a center of excellence for glass sealants Group SOUDAL. Thanks to this investment, the company SOUDAL enhances competence in the market of industrial sealants and expanding product portfolio. SOUDAL distribution network consists of 44 subsidiaries, conducts sales in 120 countries around the world, it is an excellent platform to strengthen the position TENACHEM in international markets.

The recently published financial report of the company SOUDAL for 2014 shows an impressive increase in sales by 15.4% to 565 million. Euro. Including TENACHEM, SOUDAL has 14 plants and approximately 2,300 employees worldwide.

Vic Swerts (Vic Swerts), founder and president of the Group SOUDAL: «TENACHEM acquisition has strategic importance for us, as expanding our core competencies in the area in which we should expect significant growth in the near future. Also, this is a great extension of our product range. Due to our network of sales and existing team, we hope to provide for TENACHEM significant growth in the international arena".

Soudal is the largest independent European manufacturer of sealants, adhesives and polyurethane foam for professional and home use. With a projected turnover of 650 million euros in 2015, more than 2,300 employees and 14 production facilities on four continents, a Belgian family business with its founder Vic Swerts, has turned into an international player and an expert on the market of construction chemicals. Continued investment in R & D, innovation and long-term vision to adapt quickly to the needs of the market, contributed to the excellent performance of the enterprise.