A company that built its fortune on Georgia clay is using some of that cash to buy a Brazilian competitor.
Macon-based KaMin LLC, one of the state’s largest kaolin clay producers and exporters, announced May 15 that it had purchased a controlling stake in CADAM S.A. and its subsidiaries.
KaMin operates three processing plants across central Georgia, producing kaolin used in tires, inks, paper coatings, adhesives, paints and more.
CADAM has a production facility in the Amazon regions of Brazil near reserves of fine kaolin used mostly in paper coatings. KaMin views the acquisition as a way to bolster its position in that sector while helping CADAM expand into other product areas.
“We look forward to working with CADAM to enhance their offerings to other markets beyond paper and believe that in doing so we will be able to deliver value to CADAM’s shareholders and customers,” Doug Carter, KaMin’s vice president of technology and business development, said in a news release.
Terms of the deal were not disclosed.
Georgia exported $507 million in kaolin in 2011, making it the state’s 11th largest export commodity, according to the U.S. Census Bureau.
CADAM has offices in Antwerp, Belgium, and Shanghai.
Visit www.kaminllc.com for more information.