(European Plastics News) -- Big spending regional PVC pipe and resins giant Mexichem has restated its ambitions for the Americas and Europe as it bids to become a major global player. ⌠We are continuing with our expansion plans, it told investors via the Mexico City Stock Exchange website on 25 November.
Feasibility studies are constantly being conducted into potential business opportunities in Latin America, the US and Europe that satisfy Mexichem's ⌠growth, efficiency and profit criteria, it added.
Based in Mexico City, the company has not officially stated how much it has spent since launching a $1bn (┬770,000) acquisition spree three years ago. The total, however, is likely to be in excess of $500m (┬384m).
Its latest acquisitions were Mexican rivals Plasticos Rex and PVC resins producer Policyd from Cydsa, of Garza Garcia, near Monterrey, northern Mexico, in October.
It is already Latin America's largest manufacturer of PVC pipe, vinyl resins and compounds and produces a variety of chemical products at 40-plus plants in the region, the US, the UK, Japan and Taiwan.
MRC