Istanbul — Turkey’s Kimteks is planning to open a new PU factory in Duzce, in the north-west of the country. It also aims to acquire an unspecified European PU company with 10kT/year capacity, according to senior company representatives.
The investments will be carried out by the group’s local PU systems house Kimteks Poliuretan. Under the plan, the Turkish factory will be located in the Duzce Organised Industrial Zone, and it will have 50kT/year systems capacity, Leon Mizrahi Bardavid, Kimteks Poliuretan's chairman, told local broadcaster Duzce TV.
'We have also shaken hands to buy a company in Europe with an [annual] production capacity of 10kT/year,’ he said. ‘We are currently waiting for the process to be completed. Europe is a strategic investment.'
Over the past five years, Kimteks Poliuretan has invested about €5.5m to ramp up its production in the Turkish market. In Gebze, also in north-west Turkey, it makes 120kT/year of polyurethane products and systems.
'On the last day of 2015, Kimteks Kimya decided to continue its activities as two separate companies in two separate business groups,’ Bardavid said. ‘Kimteks Kimya carries out its business activities in the distribution business. Kimteks Poliuretan is a polyurethane systems house.’
The Turkish PU maker supplies its output to various industries, and its portfolio includes products for the footwear industry, flexible foams and rigid foams, among others.
The value of the two planned investments was not disclosed. UTECH-polyurethane.com has reached out to Kimteks with a request for comment.