OYAK Merges Akdeniz Kimya and Chemson

OYAK has added another step to its company merger initiatives focused on productivity and profitability. Following mergers in the cement and energy sectors, OYAK has combined Akdeniz Kimya, one of its chemical-sector companies, with Chemson, the Austrian company it acquired in 2013, under the "Akdeniz Chemson" brand.

With operations across five continents and sales to 110 countries, Akdeniz Chemson has reached a sales volume of USD 500 million, making it the world's largest company in PVC stabilizers.

OYAK General Manager Süleyman Savaş Erdem: "We view the pandemic period as a 'period of determination' for OYAK. During this time, we continue to combine our strengths to build a more efficient and more competitive structure.

By combining Akdeniz Kimya, the market leader in Turkey, with Chemson, operating across five continents, we have become the world's largest PVC stabilizer company. Thanks to this new structure, we have become a company operating in virtually every geography worldwide, from Europe to Africa, from America to Asia, from the Middle East to Australia."

OYAK, Turkey's largest supplementary occupational pension fund, has taken a globally significant step in the chemicals sector following important mergers among its cement and energy companies this year. OYAK has combined the strengths of Akdeniz Kimya, operating within the organization, and Chemson, the Austrian company it acquired in 2013 and one of the world's important PVC stabilizer producers, under the "Akdeniz Chemson" brand. Following this, Akdeniz Chemson became the world's largest company in the PVC stabilizers sector.

Erdem: "Through the merger, we will increase our diversity across sectors and product groups"

OYAK General Manager Süleyman Savaş Erdem stated that they continue to shape their future horizons through strategic acquisitions and mergers during the pandemic period, which they refer to as a "period of determination". Erdem said they aim to transform Akdeniz Chemson into a company that will develop and produce new products for different sectors and markets in addition to their current product groups.

Erdem stated that Akdeniz Chemson will continue to grow in line with its vision of becoming a portfolio company in its sector.

Erdem noted that through the merger they have created a company operating in every geography worldwide, stating that "This move will strengthen us not only in terms of our production capacity, but also in our sales and marketing activities. By combining Akdeniz Kimya, the market leader in Turkey, with Chemson, operating across five continents, we have become a combined company with a sales volume of USD 500 million. Our goal is to create a volume of USD 750 million through our production, sales and marketing activities."

"We are the only organization meeting our raw material needs within our own structure"

Noting that Akdeniz Chemson holds a leading supplier position globally, Süleyman Savaş Erdem stated, "The merger will take us to world leadership in the global market, and it will also be a platform for entering new products and sectors in the chemicals field. We aim not to remain solely as a PVC additive manufacturer, but to produce specialty chemicals for agriculture, construction and packaging industries. We will continue our efforts to further expand the activities of Akdeniz Chemson, the first and only organization that produces many of the raw materials it uses within its own structure, across different geographies and to lead the sector with our future vision."

OYAK, which stands out by utilizing the value and cost-saving opportunities it creates in the sectors it operates in, will reach an annual production capacity of 250,000 tons through the Akdeniz Chemson merger. Aiming to become the single center of the PVC sector by increasing its cross-product sales portfolio for the sectors it serves, Akdeniz Chemson will supply to 110 countries.

The company, with key markets in Europe, Russia, Turkic republics, North Africa, the Middle East, the United States, China, Brazil and Australia, will operate with six production facilities functioning as an integrated structure on an intermediate product basis. It will also have a more efficient management model through effective sales, marketing and technical support services at production locations. Akdeniz Chemson, which represents the combination of more than 40 years of experience, will continue to produce many of the raw materials for calcium, zinc and lead-based stabilizer intermediates in its modern, continuously upgraded production facilities.