Brenntag, the global market leader in chemical distribution, has signed an agreement to acquire Parkoteks Kimya San., Turkey. The Istanbul based distribution company offers a wide range of specialty chemicals products with particular focus on the personal care industry. Established in 1989, Parkoteks has grown from strong foundations and benefits from long-term and exclusive partnerships with international leading specialty chemicals manufacturers, providing a wide range of specialty ingredients to their customers.
“Parkoteks is a significant addition to Brenntag’s strategy in Turkey and a valuable extension to our existing personal care product portfolio” says Karsten Beckmann, Member of the Board of Management of Brenntag Group. “With Brenntag Turkey offering customized solutions and specialty chemicals, we provide a powerful combination with an outstandingly distributional strength also in the personal care sector. Parkoteks has a technically qualified and skilled sales team and provides in-house application laboratory with specially trained technicians.”
Matthias Compes, President Brenntag CEE Central: ”We established operations in Turkey over 10 years ago, and the country continues to be an attractive market for the chemical distribution business. With our portfolio of specialty chemicals, the acquisition of Parkoteks allows us to bring additional know-how and support to our customers in the personal care industry, while seeing an increasing demand of value-added products in various markets in Turkey.”
The acquired company generated total sales of approximately EUR 14.3 million in the financial year 2014. The closing of the transaction will occur in the course of the next weeks.
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?