With this investment, SOPREMA will be able to better serve the second largest construction market in Latin America. The company also aspires to improve the standards of performance in construction and ultimately become the benchmark brand for quality waterproofing in Latin America.
Richard Voyer, Chief Executive Officer of SOPREMA Canada, says: "Canada already has a number of international markets, including China, Australia, the Middle East and Brazil. Mexico was simply the missing piece in our global presence. Our international operations now number 150 people and generate annual revenues of nearly $ 40 million."
"Several studies predict that by 2050, Mexico will become the 7th largest economy in the world," explained Louis-Philippe Lussier, in charge of international development. "It is estimated that the population will increase from 128 million inhabitants in 2016 to 164 million in 2050, which will generate multiple opportunities for SOPREMA in the residential, commercial and civil engineering sectors. [...] The cultural proximity and the Free Trade Agreement suggest that we will have a lot of success."
The sales office in Mexico will employ four employees and SOPREMA plans to open three additional sales offices in Latin America by 2020.
©Photo: Éric Beaupré