MOSCOW (MRC) -- Japanese chemicals manufacturer Sumitomo Chemical has bought Turkey-based company Emas Plastik and its affiliates for an undisclosed amount, said Chemicals-technology.
The deal will help the acquirer increase its global polypropylene (PP) compound business, as well as meet the growing demand for products manufactured from recycled materials in Europe.
The acquisition is also expected to improve Sumitomo’s production and marketing to Turkish automobile and white goods appliance manufacturers.
The transaction was carried out via Sumitomo Chemical’s UK-based engineering compound subsidiary Sumika Polymer Compounds Europe.
PP compounds are high-performance materials produced using fillers such as synthetic rubber, glass fibres and other inorganic fillers.
This kneading of fillers into PP enhances the impact of resistance or stiffness for use in target applications such as automobile bumpers, interior components, or casing for white goods appliances.
In a statement, Sumitomo Chemical said that it ‘will continue to work on further expanding its business through enhancing its global network of production and marketing of PP compounds to respond more speedily to customer needs’.
Emas Group is involved in the manufacturing and sale of PP and other plastic compounds. The group includes Emas Plastik, AKCE Plastik and ALMEN in Turkey.
With the completion of the deal, the Emas Group has now become Sumitomo Chemical’s consolidated subsidiaries.
Sumitomo Chemical owns 55.1% of Sumika Polymer Compounds and the remaining 25% and 19.9% are respectively held by Japanese printing ink manufacturer Toyo Ink and Japanese trading house Itochu.