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

Plastic products win Best of IBS awards

January 30, 2015 1:36 pm ET

LAS VEGAS — A year ago, inventor Jeremy Smith of Utah took his idea for an electrical outlet cover plate with LED lights on the bottom edge to...    More

Image

LG Hausys pulls out of Russian PVC profile market

January 30, 2015 11:17 am ET

LG Hausys Ltd., the building and decorative materials offshoot of South Korean giant LG Chemical Ltd., is pulling out of PVC window profile...    More

Image

Kingspan adds more European production with Joris Ide acquisition

January 27, 2015 10:30 am ET

Kingspan Group plc has purchased insulated panels and building systems supplier Joris Ide Group for 315 million euros ($356 million).    More

Image

New Vinyl Building Council leader out to build on grassroots efforts

January 20, 2015 12:54 pm ET

As the new executive director of the Vinyl Building Council, Kevin Koonce will oversee advocacy for the most-used plastic in building and...    More

Image

Plastics help create net-zero energy home

January 20, 2015 3:31 pm ET

The New American Home — a working lab of best construction practices since 1984 — has reached its greenest goal yet with plastic pushing t...    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

Learn more

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

Upcoming Plastics News Events

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

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

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events