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Article: GOMMA, BOTEX FORM JOINT VENTURE.
- Article from:
- Rubber & Plastics News
- Article date:
- August 23, 1999
- Author:
CopyrightCOPYRIGHT 1999 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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VANCOUVER, B.C.--The largest rubber sole producer in Mexico has entered into a joint venture to make shoe soles from non-rubber material.
Distribuidora Gomma S.A. de C.V., based in Leon, Mexico, recently purchased a plastisol-processing machine from Vancouver-based Botex Industries Corp. to manufacture shoe insoles, midsoles and outsoles with Botex. The firms will use Botex's proprietary material, called Botex.
Gomma's payment of $500,000 toward the machine, $380,000 for start-up costs and an estimated $2 million, 10-year agreement for the use of the Botex concentrate is all funded by a 60/40 joint venture, with Gomma as the majority owner, Botex ...