Hyva, a loading and unloading hydraulic solutions provider, has recently completed buying 75% equity of Usimeca, a Waste Handling Solutions provider in Latin America, with its headquarters in Brazil.
Alex Tan, CEO of Hyva, commented, “Usimeca, with the strongest footprint in Waste Handling Solutions across Latin America, is appreciated for its quality products and the application of proven technologies to accomplish cleaner and healthier towns. I’m proud this company is now part of our Hyva family, providing us with the best Waste Handling Solutions platform to grow in the region.”
Cesar Moreira, current CEO and 25% shareholder of Usimeca will continue as CEO of the company following the acquisition. He said, “We have about 35% of the Waste Handling market in Brazil and through the acquisition of Hyva, we can reach the scale to meet the terrific growth opportunity across Latin America.”
Founded in 1920 in Brazil, Usimeca has four facilities in Latin America – in Brazil, Mexico, and Chile. The company manufactures urban cleaning equipment, providing quality solutions for solid waste transportation and mechanized street sweeping.
Rogerio De Antoni, Vice President Americas of Hyva commented, “By increasing our product offering, we are now able to meet the demand in the fast-growing industry of environmental services. The initial feedback from the market is encouraging, so we expect our presence in Latin America to be further increased.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.