MEXICO/GERMANY - Surteco Group SE, holding company for leading national and international brands in decorative surface technology, announces the sale of its shares in Canplast Mexico S.A. de C.V.

As part of the process of optimizing the corporate structure, Surteco sold its 50 % stake to the previous joint venture partner via the subsidiary Surteco Canada Ltd. Canplast Mexico is a distribution and sales location. In the future Surteco will serve the Mexican market through its wholly owned subsidiary Chapacinta S.A. de C.V.

In 2019, Surteco, the parent company of the Doellken and Canplast brands, took steps to combine the Canplast offering into the Doellken brand in the United States and Canada. Throughout 2019 the Doellken products were made available under the Canplast brand but as of March 2020 Canplast as a stand-alone brand was retired. And the most popular Canplast products were integrated into the Doellken offering.

Surteco had acquired the Canadian Canplast group for an undisclosed sum in 2004. Canplast manufactured edgeband in Montreal and Brampton in Canada and at Greensboro, North Carolina in the US, and for a few years (2009 - 2017) also from a plant in Santiago de Chile, an operation it sold to its local partner DVP in December 2017.