MEXICO CITY, March 9, 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, has announced that the Company has reached an agreement to acquire, subject to certain conditions to closing, minority stake in the Chilean Advanced Innovation Center, LLC (AIC) for MXN $106 million, and assuming the operational control of AIC and an option to increase in the future its stake to 51%. The resources will be directed towards AIC's working capital needs and to further development of the Plasma Water Sanitation System (PWSS).
Carlos Rojas, Rotoplas' Chief Executive Officer, commented, "AIC is an ideal strategic fit for Rotoplas; both of our organizations are at the forefront of innovation. Together, we will bring science and technology closer to address today's important global water challenges. The agreement provides our Company with important diversification within our global markets by leveraging Rotoplas' extensive business model to make a profound economic, social and environmental impact. This supports the Rotoplas mission to deliver more and better water."
"After our extensive search for an industrial partner, we are pleased to have arrived in Mexico. We have chosen Rotoplas due to the Company's transparency, its global reach, its business platform, its operational track record, and most importantly, because its management shares our vision to Innovate with Purpose," commented Alfredo Zolezzi, AIC's Founder and Chief Innovation Officer.
AIC has developed and patented its high-impact technology for the Plasma Water Sanitation System (PWSS) which purifies 100% of water contaminated by organic matter, briefly transforming it into plasma- a state in which of micro-organisms are destroyed. The plasma is ultimately decelerated to normal pressure and returned to safe purified water. This unique technology is the first of its kind to date, and its effectiveness has been highlighted internationally as an unprecedented innovation due to its potential impact on global public health.
Alfredo Zolezzi will become part of Rotoplas' team, focusing on the implementation and development of PWSS technology.
This transaction will be fully financed through Grupo Rotoplas' internal resources.
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 one of the leading providers 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 12 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.
SOURCE Grupo Rotoplas S.A.B. de C.V.