Argentina has added a new sign of international confidence with the investment from Grupo Solid, one of the leading paint manufacturers in Central America, which chose to enter the country by acquiring Crilen, a historic local company dedicated to the production of resins, polymers, and construction materials.
The operation represents great news not only because of the size of the investing group but also due to its origin. As Pablo Quirno, Chancellor of the Argentine Republic, highlighted, this is a strategic investment from Guatemala in Argentina for the first time in history. “Investors in the economy see opportunities in Argentina and act accordingly,” he stated on social media, where he celebrated the arrival of productive capital to the country.
Grupo Solid was founded in Guatemala in 1955.
Crilen has two industrial plants located in El Talar de Pacheco and San Luis, with a production capacity of nearly 2,000 tons per month and more than 100 employees. The company manufactures acrylic polymers and alkyd resins, key inputs for the production of paints, coatings, and other products related to construction and industry.
The executive president of Grupo Solid, Karina Aguirre, explained that the company had been working for years on its expansion into new markets in South America and that this acquisition constitutes the first concrete step in Argentina. Additionally, she highlighted that the current macroeconomic context was one of the factors considered to proceed with the investment.
The entry comes at a time when the government of Javier Milei seeks to reposition Argentina as an attractive destination for private capital, after years of interventionism, restrictions, and obstacles to business development. The arrival of a regional company with industrial experience shows that the government has succeeded in positioning the country as an attractive destination for investors.
The Guatemalan firm decides to expand its presence on the continent.
Grupo Solid was founded by the Ascoli family in Guatemala in 1955 and currently operates in Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, the Dominican Republic, and Paraguay. It also sells its products in more than 15 markets on the continent.
The purchase of Crilen adds to the regional expansion process that Grupo Solid began in recent years. In 2021, it acquired Puras Pinturas Paraguayas and Tiendas Montana, marking its entry into South America. Now, with productive presence in Argentina, the company adds a key platform to supply the local market and strengthen its strategy in the region.
