Bursa, Turkey — United Kingdom-based engineering compounds manufacturer Sumika Polymer Compounds Europe has signed an agreement to acquire Turkish plastics group Emas.
The deal includes three compounding sites with "extensive compounding expertise," Sumika officials said in a June 3 news release. Terms of the deal were not disclosed.
Sumika is a subsidiary of Sumitomo Chemical Group, with Itochu Corp. and Toyo Ink as further shareholders.
The company offers a wide range of high performance polypropylene short glass fiber marketed under the name of Thermofil and elastomers and produced at two European plants in Havant, England, and St Martin de Crau, France.
Founded in 1978 by the Alkan family, Emas is known as a predominant player in the compounding market in Turkey.
The company owns three businesses: Almen, based in Gemlik, northwestern Turkey; Akce Plastik in the Izmir region of southwestern Turkey; and Emas Plastik in Bursa.
"This is an extremely positive development for Sumika Polymer Compounds Europe, which is increasing its production capacity to 140,000 tonnes a year," Sumika President Ludovic Seynave said.
The acquisition is in line with Sumika's growth strategy, which is aimed at expanding the number of its global compounding sites to 14 in the near future.
Sumika said it intended to invest in the production equipment of the sites in Turkey to quickly offer its entire range of PP fiberglass in the region.