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

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

Pressure is on to replace aging gas pipes

July 30, 2014 2:47 pm ET

Polyethylene is the plastic replacement material of choice for modernizing the natural gas distribution system — so much so some are concerned...    More

Image

Vinyl siding's lead slips, but industry pushing back

July 29, 2014 2:04 pm ET

Vinyl siding continues to be the top cladding choice for home builders and remodelers but fiber cement is gaining ground — at an alarming rate...    More

Image

Who are the fastest growing pipe, profile and tubing extruders?

July 28, 2014 3:09 pm ET

Question: What's the word on this week's Plastics News annual ranking of the top Pipe, Profile and Tubing extruders in North America? Answer: Up....    More

Image

Australian trade group battles non-compliant PVC pipe fittings

July 28, 2014 2:19 pm ET

An Australian plastics industry association is battling against imported, non-conforming PVC pipe fittings, but is stymied by a convoluted web of...    More

Image

Injection molder, recycler Polyvulc USA puts itself up for sale

July 24, 2014 12:41 pm ET

Fred Farrell and Larry Lambiotte, founders of Polyvulc USA Inc. and its subsidiaries Polyvulc Tire Recycling Llc and Winnsboro Rubber Recycling LLC, a...    More

Market Reports

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events