MEXICO CITY, March 21, 2017 /PRNewswire/ -- Grupo Rotoplas, S.A.B. de C.V. (BMV: AGUA) ("Rotoplas" or the "Company"), the leading provider of individual and integrated water solutions in the Americas, announces the acquisition of 52.7% of the Sanzfield Technologies Inc. outstanding voting shares for approximately $44.8 million pesos.
Sanzfield is a Canadian innovation center specialized in the development of water treatment and water recycling systems, creating technologies that remove up to 100% of organic matter, viruses and bacteria in the wastewater without generating sludge.
Carlos Rojas Mota Velasco, Rotoplas' Chief Executive Officer, commented, "The acquisition of this technology significantly complements the growth strategy in the water treatment and water recycling business."
This operation will be entirely financed with Grupo Rotoplas' own resources.
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Forward Looking Statements
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 America's leading provider of individual and integrated water solutions for storing, carrying, and treating water. 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 S.A.B. de C.V.