MEXICO CITY, July 13, 2016 /PRNewswire/ -- Grupo Rotoplas, SAB de CV (BMV: AGUA) ("Rotoplas" or the "Company"), the leading provider of individual and integrated water solutions in the Americas, today announced the signature of an agreement to acquire 80% of Soluciones y Tratamiento Ecológico, SA de CV (Sytesa) in Mexico, per the Rotoplas' announcement dated January 12, 2016.
Carlos Rojas Mota Velasco, Chief Executive Officer, commented, "Sytesa strategically complements our integrated urban solutions portfolio in Mexico and drives our business model to provide water recycling and treatment services for our customers. We are convinced that Sytesa within our business platform will add value to all our stakeholders."
Sytesa is a Mexican company dedicated to the design, construction, financing, operation and maintenance of wastewater treatment and recycling plants for commercial use in Mexico. It has nine years of experience in the industry, more than 470 wastewater plants in operation within Mexico, and as Rotoplas, innovation and customer service have played an important role for its growth.
The transaction is subject to the approval of the appropriate authorities, and will be fully financed through Grupo Rotoplas' internal resources.
Group Rotoplas will integrate Sytesa's results into Rotoplas' second half 2016 financial results.
This press release may include certain forward-looking statements relating to Grupo Rotoplas S.A.B. de C.V., it relies on considerations of the Grupo Rotoplas S.A.B. de C.V. management which are based on current and known information; however, the forward-looking statements could vary due to facts, circumstances and events beyond the control of Grupo Rotoplas, S.A.B. de C.V.
About the Company
Grupo Rotoplas S.A.B. de C.V. is the leading provider of individual and integrated water solutions for storing, carrying, and treating water in the Americas. With more than 35 years' experience in the industry and 23 plants throughout the Americas, Rotoplas has a presence in 13 countries and a portfolio that includes 17 product lines. Grupo Rotoplas has been listed on the Mexican Stock Exchange (BMV) under the ticker "AGUA" since December 2014.
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SOURCE Grupo Rotoplas SAB de CV