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Grupo Solid expands in Latin America with acquisition of Argentine firm Crilen
🇬🇹 Guatemala /Economy & Trade

Grupo Solid expands in Latin America with acquisition of Argentine firm Crilen

From Prensa Libre · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • Grupo Solid, a multinational corporation with 71 years in the paint and coatings industry, has acquired Argentina's Crilen.
  • This acquisition is part of Grupo Solid's expansion strategy in South America and Latin America.
  • The integration aims to leverage Crilen's expertise with Grupo Solid's multinational experience to boost growth and product portfolios.

Grupo Solid, a multinational corporation with over 71 years of experience in the paint and coatings industry, has expanded its reach in Latin America by acquiring the Argentine company Crilen.

The acquisition is a key component of Grupo Solid's strategic growth plan for the Southern Cone and the broader Latin American region. Crilen, with 41 years of experience in Argentina and the Southern Cone, specializes in alkyd resins and acrylic emulsions, known for its technical knowledge and customer proximity.

"This integration strengthens the presence of both companies in the Southern Cone, complementing their industrial and commercial capabilities," said Ing. Michael Ascoli, founding partner of Grupo Solid. "The integration will allow for the development of Crilen, combining its experience and trajectory in the local and Southern Cone market with the dynamism and multinational experience of Grupo Solid, which will boost growth, portfolio expansion, and customer reach."

This integration strengthens the presence of both companies in the Southern Cone, complementing their industrial and commercial capabilities. The integration will allow for the development of Crilen, combining its experience and trajectory in the local and Southern Cone market with the dynamism and multinational experience of Grupo Solid, which will boost growth, portfolio expansion, and customer reach.

— Ing. Michael AscoliFounding partner of Grupo Solid, commenting on the acquisition's strategic benefits.

Ing. Yara Argueta, President of the Board of Directors, added that Grupo Solid reaffirms its commitment to job creation in Latin America. "With this integration, the company accompanies 100 Crilen employees and their families, promoting employment continuity and the generation of new opportunities in the country."

The move enhances Grupo Solid's position in Latin America and solidifies its regional leadership in the paint and coatings industry. The company also hosted a cocktail event in honor of the Ambassador of Argentina in Guatemala, Martín Recondo, to mark the significant announcement.

Grupo Solid reaffirms its commitment to job creation in Latin America. With this integration, the company accompanies 100 Crilen employees and their families, promoting employment continuity and the generation of new opportunities in the country.

— Ing. Yara ArguetaPresident of the Board of Directors of Grupo Solid, highlighting the social impact of the acquisition.
DistantNews Editorial

Originally published by Prensa Libre in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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