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Sale of Turkey’s Farmamak to Klöckner Pentaplast is completed

by ChemOrbis Editorial Team - content@chemorbis.com
  • 07/09/2016 (15:20)
According to media reports, Turkey’s Farmamak was sold to Germany’s rigid film maker Klöckner Pentaplast Group by equity investment firm Gözde Girişim Sermayesi Yatırım Ortaklığı AŞ. The value of the acquisition is 136 million TL ($46.1 million). It is reportedly Klöckner’s first acquisition since 2011.

Klöckner Pentaplast’s CEO Wayne Hewett remarked in a statement that with this transaction, they will be able to provide better regional services and capabilities, along with an advanced customer focus towards Turkey and the Middle East.

Farmamak produces rigid PVC, PET, PP and PS films, barrier, laminate and metalized products and has annual sales of 155 million TL ($52,934,193.76). Along with Europe, the company’s largest export market; North America, Africa, the Middle East, Azerbaijan, Kazakhstan and Kyrgyzstan are also among the export destinations of the company.

Farmamak’s Managing Director Kurt Kuruç also evaluated the integration of their company to Klöckner as an opportunity to provide further growth.
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