May 24th, 2021
Dear Customers, Suppliers, and General Public,
Today, we have the honor to announce this important news. Grupo Verzatec has reached a definitive agreement with Crane Co. (NYSE: CR) for the acquisition of Crane’s Engineered Materials Business Segment (“Engineered Materials Division”).
Grupo Verzatec is a diversified company that offers a broad range of plastic-based solutions serving customers in an ample set of industries. Grupo Verzatec has operational and commercial presence in the US, Canada, Mexico, Europe, Central and South America, and Northern Africa.
Utilizing both companies’ complementary strengths will enable Grupo Verzatec provide better service, a broader product portfolio, supply chain improvements, and enhanced R&D capabilities. The combined company will benefit from a more robust operational and logistical footprint. The acquisition will also result in substantial efficiencies that will enable us to provide more affordable products to current and future customers.
Following this announcement and until the transaction closes, business for customers and suppliers will continue to be conducted as usual, this will not alter current contractual relationships or current day-to-day operations in any way. A dedicated team will be put in place to ensure a smooth transition for customers, suppliers, and employees. The acquisition is subject to customary closing conditions and regulatory approvals.
Mr. Fernando Canales, President of the Board of Grupo Verzatec commented: “I look forward to the Engineered Materials Division Team joining the Verzatec family. I have a profound respect for what they have accomplished during all these years. The combination of this two companies will unleash a promising future for all stakeholders”.
We look forward to sharing more exciting news about this important event for Grupo Verzatec.
Chief Executive Officer
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