SNSY3 Sansuy

Sansuy S.A. Indústria de Plásticos is a Brazilian company founded on May 9, 1966, in São Paulo, originally focused on manufacturing high-pressure hoses for agricultural spraying. In its early years, it operated as a limited liability company and, in 1968, was converted into a corporation, bringing together dozens of individual shareholders. Over the 1970s, it introduced reinforced synthetic PVC tarpaulins to the Brazilian market under the Vinilona brand and developed inflatable warehouses, marking the diversification of its portfolio. In 1975, it completed construction of its industrial plant in Embu das Artes (SP), equipped with Japanese PVC calendering technology, which enabled large-scale production of flexible laminates and consolidated its leadership in road cargo covers. In 1980, the company expanded its industrial base with the installation of the Camaçari (BA) unit in the local petrochemical hub and, in the same year, became a publicly held company, with its shares traded on Brazilian stock exchanges, currently represented by the tickers SNSY3, SNSY5 and SNSY6 on B3.

Sansuy’s trajectory includes internationalization moves, strategic partnerships and corporate restructurings. In 1982, it began exporting flexible PVC laminates to the United States, destined for the manufacture of films for pool, wall and furniture coverings, paving the way for operations on several continents. The company established relevant joint ventures, such as the creation of Kanaflex Indústria de Plásticos in 1973, in partnership with Japanese Totaku Industries Inc., focused on producing flexible PVC hoses, and later the creation of Sansuy Benecke Ltda. in 1998, in association with German Benecke Kaliko AG, to supply the automotive industry. In the following decades, it expanded capacity in Embu das Artes and Camaçari, restructured its indebtedness and, in 1994, merged the former Sansuy S.A. into Sansuy do Nordeste, unifying operations under the current corporate name. More recently, in 2019, it acquired Viniartefatos Comércio, Importação e Exportação Ltda. and Sanbio Construções e Soluções Ambientais Ltda., integrating industrial assets and service capabilities for assembling manufactured products such as warehouses and biodigesters.

Sansuy’s business model is centered on the production and sale of simple and reinforced flexible PVC laminates, as well as on the manufacture of plastic pipes and ducts, focusing on solutions for multiple production chains. The organization reports two main operating segments: PVC Plastic Laminates and Finished Products and Plastic Pipes. In 2024, the laminates and finished products segment accounted for around 70% of consolidated net revenue, while the plastic pipe line represented approximately 30%, highlighting the predominance of laminates in revenue generation. The company operates in an integrated way across the entire PVC transformation chain into laminates and finished products and, through subsidiaries, also operates in the extrusion of corrugated pipes and hoses for infrastructure and industrial applications. Its portfolio of more than 3,000 customers distributed across various sectors provides a high degree of demand diversification and reduces revenue concentration in a few buyers.

In PVC laminates and finished products, Sansuy supplies segments such as environmental protection, agribusiness, road cargo transportation, construction, mining, energy, sanitation, and the automotive, footwear and furniture industries, as well as leisure and visual communication applications. The production process begins with calendering, which generates unreinforced PVC films used in adhesive tapes, pool liners and other products. These films can be bonded to high-tenacity polyester fabrics in coating machines, resulting in reinforced laminates with different degrees of flexibility, suitable for manufacturing Vinilona tarpaulins, truck covers, siders, warehouse covers, waterproofing membranes, tanks for storage and transportation of liquids, aquaculture tanks, biodigesters, ventilation ducts and visual communication solutions. The laminates are then converted into finished products through cutting, welding, sewing and printing, following technical specifications and standards such as ABNT, ASTM, DIN and JIS, which allows the company to meet different requirements for mechanical performance, impermeability and durability.

In the plastic pipe segment, operated mainly by subsidiary Kanaflex S.A. Indústria de Plásticos, the company manufactures flexible PVC hoses and corrugated high-density polyethylene (HDPE) pipes in Embu das Artes. Hoses are produced by extrusion in spiral profiles, combining rigid and flexible spirals to provide mechanical strength and flexibility, with more than 50 models aimed at industry, agricultural implements, spraying, suction and discharge of products in sectors such as construction, agribusiness, food, mining and petrochemicals. Corrugated HDPE pipes, with internal diameters of up to 3,000 mm, are used in infrastructure applications such as stormwater drainage, sanitary sewage, protection of electrical and fiber optic cables, telecommunications, highways, ports, airports and railways. These products are known for lower weight compared to traditional technologies, higher hydraulic efficiency and durability, and are listed in reference pricing tables such as Sicro and Sinapi, and are also approved by power and telecom utilities across the country for the protection of underground cables and drainage systems.

Sansuy’s product distribution combines direct sales and the work of commercial representatives. Direct sales are concentrated in large industrial customers and infrastructure projects, while specialized representatives serve niches such as the footwear industry and the bus body manufacturing segment. The company also uses subsidiary Viniartefatos Comércio to market manufactured products, especially assembled structures, warehouses and biodigestion systems. Delivery logistics are outsourced, using carriers to ship laminates in rolls, pipes, hoses and finished products in formats suitable for handling and installation. This commercial structure enables presence throughout Brazil and supports exports, mainly to South American countries, meeting both recurring demand and large-scale, project-specific orders.

Geographically, Sansuy concentrates its laminate and finished goods sales in Brazil’s Southeast and South regions, which together account for more than 70% of domestic revenue in this segment. In 2024, about 90% of consolidated revenue was generated in the domestic market, while approximately 9% to 10% came from exports of laminates and pipes to other countries, mostly in South America. Kanaflex has a similar profile, with sales predominantly in the Southeast and South, complemented by relevant shares in the Northeast and other Brazilian regions, as well as a smaller portion of exports. The manufacturing presence in Embu das Artes and Camaçari, close to industrial consumer centers and the petrochemical hub, favors access to raw materials such as PVC, plasticizers, polyester yarns and additives, while allowing optimization of logistics costs and delivery times.

Sansuy’s operations are subject to environmental and industrial safety regulations due to the use of chemical inputs and thermoplastic transformation processes. The company states that it maintains all necessary licenses and permits with agencies such as CETESB, IBAMA, the Fire Department, Civil Police and Federal Police, and continuously monitors compliance with the conditions required to renew these documents. Its quality management system is certified under IATF 16949:2016 and ISO 9001:2015, reflecting the requirements of sectors such as automotive and general industry. Regarding environmental, social and governance practices, the company is in the process of structuring its ESG strategy and does not yet have a dedicated public report, but it already conducts an internal greenhouse gas emissions inventory based on the GHG Protocol, covering scopes 1 and 2, and adopts internal policies focused on ethics, social and environmental responsibility, use of recyclable materials when feasible and prioritization of suppliers that act responsibly toward the environment. Sansuy’s common and preferred shares, traded on B3 under the tickers SNSY3, SNSY5 and SNSY6, represent an interest in an industrial group diversified along the plastics value chain, with strong exposure to demand from productive and infrastructure sectors.