The Swiss Forbo Group has entered into a license agreement with the Brazilian adhesives manufacturer, Artecola Indústrias Químicas Ltda., under which Artecola will produce adhesives for Forbo’s South American customers, including those involved in the production of footwear and leathergoods.
With an annual turnover of $22 billion, Artecola is South America’s leading privately-owned adhesives manufacturer with a strong presence throughout the region. The exclusive license agreement which encompasses most products in the Forbo portfolio will see Artecola become Latin-America's main adhesive producer, serving a market estimated at $372 million a year.
Paul Hälg, vice-president and representative of the adhesives division for the Forbo Group was in Brazil for the signing of the agreement, which took place at Artecola's headquarters in the city of Campo Bom/RS.
Artecola, founded in 1948, is a family business. It employs 1,100 people in seven factories in Brazil, Mexico and Argentina. Its highest turnover comes from the production of adhesives (US$ 62 million or 39%). The laminates sector of the company accounts for 30% of the company's turnover followed by shoe uppers (27%) and plastic component for the furniture industry (4%). The company's strategic planning department foresees a US$300 million turnover for 2010.
