Wroclaw, Poland -- Selena Co. SA has bought a 51 percent stake in the Spanish construction chemicals company Industrias Quimicas Löwenberg (Quilosa). The object of the deal is to strengthen Selena's and Quilosa's competitive positions in Europe, said a 3 July statement from Polish insulation and sealants supplier Selena.
Quilosa specialises in chemicals for the building and industrial sectors. The company, set up in 1940, is a leader in the Iberian market for sealants and adhesives, which are produced in a factory located in Guadalajara, Spain.
Exports account for 25 percent of Quilosa;s revenues; for 2009, the company expects to achieve sales of over Euro 30 million.
Adding Quilosa, with its long track record in the manufacture of sealants and adhesives, will allow Selena to expand its product offering and will give it competitive edge as a supplier of products for the industrial sector, said Selena.