63 Million Dollar Acquisition from Akkim Kimya

14 Temmuz 2021

Akkim Kimya, Turkey’s leading chemicals manufacturer, has added a new one to its strategic investments. Akkim, moving towards its growth targets with company acquisitions, incorporated USK Kimya for 63 million Dollars. The Competition Board is expected to approve the commitment in February and the transfer process is expected to be concluded by the end of the month.

USK Kimya, which was included in Akkim, is one of the world’s leading carboxymethyl cellulose (CMC) manufacturers. The company, established in 2001 in the district of Nazilli in Aydın, exports 80 percent of its annual production up to 40 thousand tons. The sectors, served by USK Kimya, include oil and natural gas drilling, detergent, mining, food, personal care, textile, paper and ceramics. USK Kimya, which also produces high purity CMC, is one of the largest technical CMC manufacturers in the global market.

Onur Kipri, General Manager of Akkim Kimya, stated that they had the opportunity to double their exports with the acquisition investment. Referring to the high export rate of USK Kimya, Kipri said that; “We are very happy that USK Kimya will merge with Akkim. While making this investment decision, we have taken into account the power of USK in exports and its market dominance in the country and its ‘know-how’ capability. We believe that its customer portfolio parallel to the sectors served by Akkim and synergy in production processes and supply chain stages will add value to us. I hope this agreement will be beneficial to both parties and the chemical industry”.

Lastly, stating that Akkim will continue its organic and inorganic growth investments in the upcoming period, Kipri said that he aims to increase its annual turnover to 600 million Dollars in the next 5 years. With this investment, the total value of acquisitions made by Akkim Kimya in the last 6 years has reached 200 million dollars. Akkim, entered this sector by incorporating Akcoat, one of the world’s largest enamel and ceramic frit manufacturers, in 2015, bought Dinox, the German chemical sales and marketing company in 2017.

Subsequently, all shares of Akferal, which were established in fifty-fifty partnership with Feralco, Europe’s second largest water chemicals manufacturer, were bought by Akkim. Also, Spanish Megacolor, producing ceramic printing inks, was acquired by Akcoat, a subsidiary of Akkim.