IMCD acquires Turkish speciality chemical distributor Feza Kimya
ROTTERDAM, The Netherlands (22 December, 2016) – IMCD N.V. (“IMCD” or “Company”), a leading distributor of speciality chemicals and food ingredients, announces that it has acquired 100% of Feza Kimya İç ve Dış Ticaret Anonim Şirketi (Feza Kimya), based in Istanbul, Turkey. With a focus on the coatings and plastics markets, Feza Kimya perfectly complements the existing IMCD Turkey operations.
Feza Kimya, founded in 1959 by Saffet Bozkurt, is one of the leading market players in the technical sales, marketing and distribution of speciality chemicals and instruments in Turkey selling into the coatings, plastics, rubber, lubricants and detergents sectors. In 2015 Feza Kimya generated revenue of EUR 8 million with 23 employees.
Gokhan Oran, Managing Director IMCD Turkey, comments on the acquisition: With a highly-acclaimed reputation, long-term supplier partnerships and dedicated sales team, Feza Kimya is an excellent fit with IMCD. This acquisition will allow us to establish a market-leading organisation for the Turkish coatings industry and will also provide a platform to build a local application laboratory dedicated to coatings. This will ensure that we further develop our technical support for both our suppliers and customers in the Turkish region. In addition, the acquisition expands our operations into plastics: a key market in Turkey.”
Mr. Mehmet Bozkurt, Managing Director of Feza Kimya, adds: “IMCD’s focus on providing innovative solutions and a high-quality service to its partners closely aligns with Feza Kimya’s values and strategy. We are delighted to become a part of the IMCD organisation and very much look forward to working together to create new development opportunities and to further enhance our offering to our existing and new partners.”
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