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.
Eastman Chemical Co. (Kingsport, Tenn.) announced it has acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia Pacific region.
BASF and Israeli packager StePac have joined forces to create the “next generation” of fresh produce packaging. BASF will provide StePac with greater flexibility to advance contact-sensitive packaging formats to a higher sustainability standard by supplying StePac with Ultramid Ccycled – a chemically recycled polyamide 6.
TotalEnergies’ biorefinery in La Mède, France, allows direct access to renewable feedstock for its drop-in RE:newable polymer range derived from bio-based products. The company claims these polymers retain virgin-like properties.