Stahl acquire Pielcolor Uruguay

Stahl Holdings, through their subsidiary Pielcolor, have acquired full control of Pielcolor Uruguay with effect from 31 December 2005. The deal, concluded with Uruguayan based Pinturas Inca, part of ICI Paints, includes the two subsidiary companies, Colorcuer in Argentina and Pielcolor Chile. This acquisition, which is in line with Stahl's strategy of concentrating on special effect coatings, will further strengthen the position of Pielcolor in the very important leather finish markets of South America, in which Pielcolor Uruguay currently operate. Under the terms of the acquisition, Pielcolor Uruguay will continue to operate from their current plant in Montevideo which they lease from Pinturas Inca. The management team, Diego Cibils, Enrique D'Olivo and Miguel Sagasti will continue to run the company under the new ownership thus ensuring the all-important continuity in management.