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SIMONA plans to acquire Turkish market leader in PVC foam sheets

·2-min read

SIMONA Aktiengesellschaft / Key word(s): Takeover/Strategic Company Decision
SIMONA plans to acquire Turkish market leader in PVC foam sheets

09-Nov-2020 / 08:51 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Kirn, 09 November 2020. SIMONA AG plans to acquire 70 per cent of the ownership interests in MT Plastik AS, Düzce, Turkey. Established in 2007, MT Plastik is Turkey's market leader within the area of PVC foam sheets. The products are used primarily in the field of digital printing, advertising and structural engineering. MT Plastik is a private owned company, employing around 50 people and generating revenue in excess of €11 million. The company exports approx. 60 per cent of its revenue, mainly to Europe. The planned acquisition is to be seen in the context of SIMONA's strategic realignment in Europe and will help to strengthen the Group's market position within the area of PVC foam products.

SIMONA wants to establish itself as Europe's market leader for PVC foam sheets with regard to quality, breadth of product portfolio and market share. In acquiring MT Plastik, a highly profitable and very well organised company with lean structures, SIMONA has laid the foundation. In addition, Turkey as a location and the high share of exports already achieved by MT Plastik gives access to other interesting markets in Europe and the Middle East.

The transaction combines the mature product portfolios of two companies with extensive experience and expertise. Customers will benefit from a greater focus on applications, a stronger market presence based on a dense network of competent distribution partners and improved logistics and services.

The existing owners of MT Plastik have committed themselves to the new alliance for the long term under the leadership of the current chairman and majority shareholder Tufan Kalkan and will retain 30 per cent of the interests.

Subject to the final approval of the antitrust authorities, the transaction is expected to be closed on 31 December 2020.

09-Nov-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

SIMONA Aktiengesellschaft

Teichweg 16

55606 Kirn an der Nahe

Germany

Phone:

06752-14-997

Fax:

06752-14-738

E-mail:

eric.schoenel@simona.de

Internet:

www.simona.de

ISIN:

DE0007239402

WKN:

723940

Listed:

Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Stuttgart

EQS News ID:

1145860


 

End of Announcement

DGAP News Service

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