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Germany’s Wirthwein to acquire Turkey’s FAREL Plastics

by ChemOrbis Editorial Team -
  • 10/04/2015 (10:37)
According to media reports, Germany’s Wirthwein Group, a manufacturer of high-quality plastic components, will acquire Turkey’s FAREL Plastics, which was established in Çerkezköy, Turkey as part of the FARPLAS Group of Companies. The Wirthwein Group has agreed to purchase a 70% stake in the Turkish company and they are now waiting for approval from the relevant competition authorities. The estimated value of the transaction was not disclosed.

FAREL Plastics is a leading company in its field in Turkey with a turnover of €38 million (TRY106 million) in 2014. The company manufactures plastic components for major global domestic appliance companies such as B/S/H/, Whirlpool and Electrolux.

The companies stated that have common goals in expanding the company through new investments, with a new factory currently under construction.
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