Rio Grande do Sul, Brazil –Datwyler Sealing Solutions (DSS) has acquired Brazilian automotive supplier BINS Indústria de Artefatos de Borracha Ltda to improve access to the South American automotive industry.
Part of the Swiss manufacturing group Datwyler Holding AG, DSS said the deal was signed 23 Aug and is set to be completed at the end of the month, subject to regulatory conditions. The two sides did not disclose financial details of the transaction.
With the acquisition, DSS said it is “closing a key geographical gap” in its automotive market segment and will from now on have production plants in all its relevant markets.
Set up in 1953, the family-owned BINS has an in-house mould shop and mixing facility, where it develops and manufactures elastomer seals for the automotive industry.
In addition to its OEM activities, BINS operates in the spare parts business with imported commercial products as well as in the industrial segment with other seal components.
The company employs 350 people and generates annual revenue of around CHF 20 million (€17.5 million).
Post-acquisition, the current management team will be retained to ensure continuity in the company's further development.
BINS’s plant is located not far from Porto Alegre in the southernmost state of Rio Grande do Sul, an important industrial centre in Brazil.
According to Datwyler, Brazil is currently the sixth biggest automotive market in the world and is recovering from its recent recession.
Datwyler will utilise BINS’s distribution network to offer both carmakers in Brazil and existing customers in South America its full range of products, including O-rings and thermoplastic and silicone components.