Acquisition of Turkish market leader for PVC foam sheets completed
Kirn, 01/02/2021. SIMONA AG has completed the acquisition of a 70 per cent interest in MT Plastik AS, Düzce, Turkey, (cf. release of 9 Nov. 2020) by closing the transaction effective from 1 February 2021. Due to the tragic death of one of the owners of MT Plastik, Tufan Kalkan, the closing process had been delayed (cf. release of 21 Dec. 2020).
In future, the company will trade under the name of SIMONA PLASTECH. In making this acquisition, SIMONA aims to become a market leader in the business segment of PVC foam sheets with regard to quality, breadth of product range and market share.
The acquisition of MT Plastik will add new and established products to the portfolio and unlock potential in the field of construction and advertising applications under the umbrella of the newly formed Advertisement and Building Industry business line.