IMCD Buys Turkey’s Feza Kimya
IMCD has acquired Turkey’s Feza Kimya, boosting the Dutch specialty chemical distributor’s existing operations in the country. Financial details were not disclosed.
Feza Kimya is one of Turkey’s leading players in the technical sales, marketing and distribution of specialty chemicals, selling into the coatings, plastics, rubber, lubricants and detergents markets. Based in Istanbul, the company has 23 employees and posted revenues of €8 million in 2015.
Gokhan Oran, managing director of IMCD Turkey, said Feza Kimya is an excellent fit and will allow IMCD to establish a market-leading organization for the Turkish coatings industry as well as providing 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,” Oran commented.
The transaction is the third for IMCD this year, following the purchase of US pharmaceutical industry supplier Mutchler in July and Kenya’s Chemicals and Solvents in June.