Companhia Industrial de Resinas Sinteticas

Companhia Industrial de Resinas Sintéticas is a major PVC emulsion and a PVC suspension manufacturer located in Estarreja, Portugal, with a turnover of over €130M. The company was founded in 1960 as a joint venture between a Portuguese and two Japanese companies. The products are sold mainly in the European market, and under the trademarks VICIR S and VICIR E. The company is commonly referred to as CIRES, and is now a joint venture between the following stakeholders:

Owner	Share	Nationality
Norsk Hydro	26%	Norwegian
Mitsui	25%	Japanese
Shin Etsu & Co	26%	Japanese
Millennium bcp	20%	Portuguese
Other	6%	Various

The venture is backed up with significant know-how through its owners. Norsk Hydro and Shin Etsu are world leaders in PVC manufacturing technologies of suspension and emulsion resin types, and Mitsui being one of the most important trading companies for these types of products.