Protex International buys Mereco
Published: October 02, 2014 by A Warmington
Buy strengthens base in electronic chemicals
Protex International, a privately owned French speciality chemicals company, has acquired the Mereco Technologies group of companies, which it, said, “continues its pursuit of external growth and strengthens its base in electronic chemistry”. Terms were not disclosed.
Mereco will remain legally autonomous but will move from its base at West Warwick, Rhode Island, to be integrated with an existing subsidiary, Protavic America, in Londonderry, New Hampshire. Here it will jointly develop new customer-specific and other products for electronic applications. It will also work with Protavic International at the Synthron site in Auzouer-en-Touraine, France.
Protex makes various speciality chemicals for electronics, including conductive glues, speciality resins and encapsulants, adhesives, optical fibres, LEDs, fuel cells and solar and photovoltaic cell technologies. Its stated aim is to strengthen its presence in the key partner lists of its key customers and be a major player, with state-of-the art products. As well as the US and France, it has Protavic subsidiaries in China and Korea.
Electronic chemistry now represents about 10% of Protex’s turnover, which is forecast at €170 million this year, with a target of €200 million in 2015. This has grown 25% in the past five years and is seen as a cornerstone of future growth. The company itself, which is still family-owned, began as a maker of textile auxiliaries and has expanded into many other niches in paper, paints, agriculture, perfumes, water treatment and environmental biotechnology.