Netherlands-based Stahl Holdings BV, through its subsidiary Pielcolor S.L.U., has acquired full control of Pielcolor Uruguay, S.A. with effect from December 31, 2005. The agreement, concluded with Uruguay-based Pinturas Inca, S.A., part of ICI Paints, includes two subsidiary companies, Colorcuer, S.A. in Argentina and Pielcolor Chile, S.A.

According to Stahl, this acquisition – which is in line with the company’s strategy of concentrating on special effect coatings – will further strengthen the position of Pielcolor in the important South American leather finish markets, in which Pielcolor Uruguay currently operates.

Under the terms of the acquisition, Pielcolor Uruguay will continue to operate from its current plant in Montevideo which it leases from Pinturas Inca, S.A. The management team, Diego Cibils, Enrique D’Olivo and Miguel Sagasti, will continue to run the company under its new ownership thus ensuring continuity in management.