By Jaroslaw Adamowski
Istanbul -- Ravago Petrokimya has bought polyurethane compounder Tekpol for EUR 36 million (USD 49.1 million), reported local daily Sabah.
Ravago Petrokimya is a Turkish subsidiary of Belgium-headquartered Ravago. Ravago started operations in Turkey in 1998 and has three production facilities Eastchem, Enplast and Ravago Kimya Plastik. Ravago Kimya Plastik was set up in 2011 and has been producing thermoplastic polyurethanes (TPU) at its plant in Tuzla, Istanbul.
Tekpol is a polyurethane systems house founded in 1989 and is also based in Istanbul. The company has a product portfolio of more than 400 polyurethane systems, including thermoplastic polyurethanes. Tekpol has a polyol blending capacity of 60 kT/year, prepolymer production capacity of 24 kT/year, TPU capacity of 6kT/year and base polyol capacity of 22 kT/year, according to company data
Mehmet Onur, chief executive of Ravago Turkey, said that in addition to the group’s expansion in Turkey, Ravago is also negotiating investments in production and distribution of polyurethane systems in the Middle East, the Gulf States and Russia.
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