Trelleborg, Sweden – Trelleborg Industrial Solutions has assumed full ownership of its Max Seal joint venture in Latin America.
The company acquired a 51% stake in the Costa Rica-headquartered maker of polymer-based sealing systems in 2014.
In a statement on 5 Feb, Trelleborg said it had purchased the remaining 49% of the shares in Max Seal.
Trelleborg will be consolidating the business into its Americas seals and profiles operation.
Max Seal develops and manufactures polymer-based sealing systems, including rubber gaskets for water pipes.
The company has a sole production plant in Mexico, with distribution centres in the US and South America.
The decision to take full control of operations was made to serve the growing customer base in the region, said Trelleborg.
The move, it added, will increase efficiency in the production and supply chain throughout the group.
With the full acquisition, Alan Guzowski, who was the managing director of Max Seal, will exit the business.
The business will be led by Smith McKee, managing director of Trelleborg’s seals and profiles operation in the Americas.