Belgian Soudal Holding, the world's leading manufacturer of construction sealants, buys a share of the capital of Bellat Co. Ltd, which represents the products of the Latvian Tenax Group on the construction market of Belarus.
At the same time the Belgian company becomes a co-owner of the shares of Tenachem (a part of Tenax holding) in its distribution business in Russia and Ukraine.
According to Soudal website, in July 2015 the company has acquired the Latvian Tenachem, a manufacturing company of construction chemicals, glass park and construction sealants, which is one of the subsidiaries of the Tenax Group. This transaction has not stipulated any changes in the name for Tenachem and its brands, and has not affected the structure of employment and the management of the company.
Bellat Co. Ltd was created in 1996 to promote the products of the Latvian company in the Belarusian market, introducing here sealants, mastics, construction and polymer adhesives and other products of the holding.
Vic Swerts has chaired Soudal Holding NV since it was founded in 1966. As of October 2015, Soudal owns 14 production plants on four continents, as well as 44 offices around the world and its own research center. The company manufactures construction foam, polyurethane adhesive, sealant, roof insulation and distributes them in more than 130 countries.
The amount of employees of Soudal Holding reaches 2,3 thousand. The company’s turnover in 2014 amounted to EUR560 million, 15.8% higher than in the previous year. At the same time net profit in 2014 amounted to EUR21 million. The company expects an increase in turnover up to EUR650 million at the end of 2015.
Today Soudal Holding is the largest Belgian investor on the Belarusian market.
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