Wadsworth, November 20, 2018 – In order to continue the outstanding international expansion it has experienced in recent years, SOPREMA is very pleased to announce the opening of a sales office in Mexico City. Thanks to this investment, SOPREMA will be able to better serve the second-largest construction market in Latin America. The company also aspires to contribute to the improvement of construction performance standards and ultimately become the benchmark brand for quality waterproofing in Latin America.
“SOPREMA is already developing several international markets, including China, Australia, the Middle East, and Brazil. Mexico was simply the missing piece in our global presence. Our international operations now include nearly 150 people and generate approximately $40 million in annual revenues,” said Richard Voyer, Executive Vice-President and CEO of SOPREMA.
Mexico’s sales office will have four employees, and SOPREMA plans to open three additional sales offices in Latin America by 2020.
“Several studies forecast that Mexico will become the 7th largest economy in the world by 2050. It is estimated that its population will increase from 128 million in 2016 to 164 million by 2050, which will generate multiple opportunities for SOPREMA in the residential, commercial and civil engineering sectors,” added Louis-Philippe Lussier, SOPREMA’s Head of International Development. “Studies also predict a significant increase in GDP per capita, which suggests that the popularity of SOPREMA’s high-quality building materials will grow. The Mexican economy is no longer limited to the tourism industry; the automotive, pharmaceutical and aeronautics sectors have also become very strong. I feel the cultural proximity and the free trade agreement will lead to great success for our company.”