Breaking News

Sun Chemical acquires shares of Colombian ink supplier

January 3, 2014

With annual sales over $100 million, the Tintas/Sinclair Group sells printing inks in the Andean region of Latin America.

Sun Chemical Group Coöperatief UA has purchased the remaining shares held by Inversiones Mundial (Grupo Mundial) in their Colombian joint venture companies Tintas SA and Sinclair SA. Grupo Mundial is a diversified group based in Medellin, Colombia. Founded in 1921, Grupo Mundial operates in 16 countries and exports to 25 countries. Group sales for 2012 were $1.2 billion. It has four company divisions: paints, chemicals, commerce and water pipes.

With annual sales over $100 million, the Tintas/Sinclair Group sells printing inks and related graphic arts products primarily to the packaging market in the Andean region of Latin America, which covers Colombia, Ecuador, Peru and Venezuela.

“This acquisition reinforces Sun Chemical and DIC’s commitment to both the printing ink business and the growing Latin American market,” says Rudi Lenz, president and CEO of Sun Chemical. “Tintas and Sinclair are the market leaders of printing inks and related products in a region where the economies are growing. It is our intention to continue operating with the current successful management team and bring our customers the quality products, excellent service and new innovative solutions they expect from us.  We look forward to continue working together in other businesses with Inversiones Mundial (Grupo Mundial).”

Sun Chemical says it has had a good relationship with Tintas and Sinclair for more than 30 years, and Sun Chemical and Inversiones Mundial have been equal partners in this joint venture formed in 1999 after Sun Chemical purchased Coates Lorilleux.

"With the sale of Tintas, Grupo Mundial consolidates the strategy set a few years ago to focus on four core businesses: paints, chemicals, commerce and water pipes,” says Santiago Piedrahita, CEO of Grupo Mundial. “Proceeds of this sale will allow us to remain active in our investment portfolio in these lines of business."

blog comments powered by Disqus
  • Print Management Systems

    Print Management Systems

    Catherine Diamond||January 23, 2013
    The newest generation of print management systems streamline internal processes and communication with customers.

  • A Meeting of Minds

    A Meeting of Minds

    Catherine Diamond, Associate Editor||May 24, 2012
    The L9, a global group of industry associations, met in Tokyo to discuss global awards, standards and sustainability.

  • Label Summit Latin America

    Label Summit Latin America

    Catherine Diamond, Associate Editor||May 23, 2012
    Held in Guadalajara for the first time, the show focused on going green and the region’s rapid growth.