Deceuninck buys PVC window maker Pimas, adds capacity in Turkey, Russia

By Catherine Kavanaugh
Staff Reporter

Published: August 25, 2014 2:26 pm ET
Updated: August 25, 2014 3:49 pm ET

Image By: Deceuninck Group Deceuninck Group is adding PVC window profile production in Turkey and Russia with its acquisition of Pimas Plastik.

Related to this story

Topics Mergers & Acquisitions Pipe/Profile/Tubing Europe Windows & doors
Companies & Associations

European building products manufacturer Deceuninck Group has acquired 81.2 percent of Pimas Plastik Insaat Malzemeleri AS, the leading PVC window profile producer in Turkey, for about 57.7 million Turkish lira ($26.5 million).

The purchase gives Deceuninck, which is based in Hooglede, Belgium, two more manufacturing facilities — one near Istanbul and one in Rostov-on-Don, Russia — along with complementary products and a wider customer base served by a distribution network with 1,200 points of sales.

The acquisition, which was announced Aug. 25, is in line with Deceuninck’s plans to strengthen its position in Russia and Turkey, which are the first- and second-largest PVC window markets in Europe, respectively.

Ever since Deceuninck entered Turkey more than 14 years ago, sales and profits have grown steadily, according to CEO Tom Dubusschere.

“Some periods of turbulence were turned into opportunities for further market share growth,” he said in a news release. “The acquisition of Pimas, with its pioneer brand Pimapen, the most recognized name for windows in Turkey, presents a great opportunity. As a result, Deceuninck will move to the No. 1 position in Europe’s second-largest PVC window market, which is estimated at 325,000 [metric tons] per year.”

The same market in Russia is estimated at 370,000 metric tons per year. Deceuninck has had a presence in Moscow for 10 years. The Pimas acquisition gives it a modern facility in southern Russia, which is a competitive market for new construction and renovation.

Pimas posted sales of 174 million Turkish lira ($79.9 million) for the fiscal year that ended June 30 and is listed on the Istanbul stock exchange. Deceuninck will launch a mandatory public offering after the deal closes to meet a Turkish law requirement.

Already listed on Euronext Brussels under the ticker DECB, Deceuninck had 2013 sales of 536.5 million euros ($708.3 million). Turkish sales represented 23 percent of the group’s world sales while Western Europe made up 33 percent, Central and Eastern Europe were 30 percent and North America was 14 percent.

Turkey is a major export hub for the 75-year-old company, which also is building a new factory there in Menemem near Izmir that will replace the smaller Egepen Deceuninck plant.

In addition, the Belgian group operates a second smaller plant in Turkey at Kocaeli. The facility opened in 2007 and manufactures Deceuninck’s Winsa brand window system.

Deceuninck will fully consolidate Pimas when the deal closes and then it will hold the top three brands for high-end PVC windows in Turkey with Winsa, Egepen and Pimapen, which also offers a foldable glass balcony system.

Deceuninck currently has 12 manufacturing plants in 10 countries and 2,700 employees in 25 countries.


Comments

Deceuninck buys PVC window maker Pimas, adds capacity in Turkey, Russia

By Catherine Kavanaugh
Staff Reporter

Published: August 25, 2014 2:26 pm ET
Updated: August 25, 2014 3:49 pm ET

Post Your Comments


Back to story


More stories

Image

Eriks NV buys two US polymer companies

April 24, 2015 10:38 am ET

Dutch company Eriks NV is expanding its reach in the North American plastics sector with two acquisitions: Dallas-based Seals and Packings Inc. and...    More

Image

Danish packaging firm Faerch buys UK's Anson as part of growth strategy

April 24, 2015 9:37 am ET

Denmark-based packaging company Faerch Plast A/S has acquired Ely, United Kingdom-based Anson Packaging Ltd., a move the company says “should...    More

Image

Reifenhäuser acquires German spinneret company Enka Tecnica

April 17, 2015 9:31 am ET

Germany-based Reifenhäuser GmbH & Co. KG, a major manufacturer of extrusion equipment, has announced that it is acquiring Enka Tecnica GmbH, a German ...    More

Image

Spain's Grupo Antolin to buy Magna's interiors business

April 16, 2015 12:33 pm ET

Spain's Grupo Antolin has reached an agreement to purchase Canadian auto supply giant Magna International Inc.'s interiors unit in a deal valued at...    More

Image

Madison buys Ferry Industries

April 16, 2015 5:22 pm ET

Ferry Industries, the largest manufacturer of rotational molding machinery, was purchased by Madison Industries, a Chicago holding company that is the...    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