Flowcrete acquires top Norwegian polymer group
OSLO, June 27, 2017
UK-based Flowcrete has acquired Elmico, a high-tech maker of polyurea waterproofing systems as well as epoxy and polyurethane polymer flooring systems based in Oslo, Norway.
A specialist in the manufacture of seamless industrial and commercial resin floor, wall and covering solutions, Flowcrete is a member of The Euclid Group, which is made up of multiple construction chemical brands of subsidiaries of RPM International.
The acquisition, which was finalised on June 1, will see Elmico become part of Flowcrete Nordic, a division that consists of Flowcrete businesses across Norway, Sweden and Denmark.
Since being founded in 2003, Elmico has grown into a multi-million-dollar company and currently operates out of a 2,000-sq-m facility in Galterud, a town close to the Oslo Gardermoen Airport and Sweden.
Elmico specialises in innovative thermosetting plastic products for a variety of challenging settings, including: roofing, industrial flooring, parking garages, ship decks, bridges, quays, dams, tank installations and pipes.
Among its most popular products is the Micorea range of high performance, spray-applied polyurea waterproofing systems.
On the deal, Elmico’s general manager, Elisabet Michelson, said: "Becoming part of Flowcrete represents a significant opportunity for Elmico. With the backing of Flowcrete and The Euclid Group we will be able to introduce Elmico’s leading polymer products to more people and places than ever before."
"The growth potential, opportunities for collaboration and support that this acquisition provides means that we are very excited for the future," he stated.
Craig Brookes, the president of Flowcrete, said: "We are overjoyed to welcome Elisabet Michelson and her team to the Flowcrete family. Elmico’s expertise and their fantastic new technology is second to none and there are some very exciting plans in the pipeline - so watch this space!"
Mark Greaves the president of Euclid Group and chairman of Elmico, expressed delight at Elmico joining Flowcrete and by extension The Euclid Group.
"This acquisition will strengthen Flowcrete's business in Norway and Elmico's unique polyurea technology will be launched globally via The Euclid Group's worldwide platform of construction chemical businesses," he noted.
"Thanks to its leading expertise, quality products and ability to tailor solutions to specific demands, Elmico has worked on a long list of important projects including the Ypsilon bridge, VEAS wastewater treatment plant and the Nordhue antennae building," he added. -TradeArabia News Service
