Georg Fischer acquires Turkey's Hakan Plastik

Richard Higgs
EUROPEAN PLASTICS NEWS

Published: May 22, 2013 11:42 am ET
Updated: May 22, 2013 11:43 am ET

Related to this story

Topics Construction
Companies & Associations

SCHAFFHAUSEN, SWITZERLAND — Global pipe systems group Georg Fischer has announced it is purchasing a majority stake in Hakan Plastik, a leading supplier of plastic pipes to the growing markets of Turkey, Eastern Europe and the Middle East.

Family-run Hakan Plastik, based in Cerkezköy, Turkey, operates two plants supplying pipe systems for the building technology, water and gas distribution markets as well as for agricultural irrigation. It employs 650 and last year recorded turnover worth 84.3 million euros.

The deal, for an undisclosed sum, gives Georg Fischer of Schaffhausen, Switzerland an option of later acquiring the remaining shares in the Turkish firm.

Hakan's current management team will remain in place under the current owners "to guarantee the continuity of the company's successful operation and to execute the significant synergies with Georg Fischer," the Swiss buyer stated.

The transaction, being handled by the group's plastic pipe division, GF Piping Systems, is due to be completed in July.

Hakan's main plant is located in Cerkezköy, and the firm only opened a unit in Anatolia, Turkey, last year.

Formed in 1965 by the Karadeniz family, Hakan began exporting in the 1990s and today sells to 70 countries. It was restructured in 2002 to accelerate investment in infrastructure and agricultural pipe at its single plant.

With 5,000 employees, GF Piping Systems generated annual sales in 2012 of around 1.2 billion euros from business in over 100 countries worldwide. The parent group, with annual sales of almost 2.9 billion euros, also serves the automotive and tool and mold making sectors.


Comments

Georg Fischer acquires Turkey's Hakan Plastik

Richard Higgs
EUROPEAN PLASTICS NEWS

Published: May 22, 2013 11:42 am ET
Updated: May 22, 2013 11:43 am ET

Post Your Comments


Back to story


More stories

Image

Economic déjà vu: strong spring growth expected after a rough winter

April 15, 2015 2:03 pm ET

The long, harsh winter is finally over, and the first quarter of the calendar is history. So now is an appropriate time to review the emerging trends ...    More

Image

BASF bullish on North American auto market

April 13, 2015 11:44 am ET

The North American performance materials unit of BASF SE expects its 2015 growth to come from the automotive, consumer and industrial markets.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events