Construction chemicals group Fosroc has announced the acquisition of a majority shareholding in Idea Kimya, a cement additives company from Turkey.
Idea Kimya manufactures and sells cement additives and concrete admixtures and has two manufacturing facilities in Turkey. It is a market leader in Turkey and also serves the Middle East. Fosroc is based in Dubai and operates 20 manufacturing plants. It trades in Europe, the Middle East, India, Central Asia, the Far East and Africa, offering a complete range of construction chemicals products and solutions for the construction industry.
Commenting on the acquisition, Dr Andre Ladurelli, CEO of Fosroc, said: “Our strategy is to continue achieving double-digit organic growth in existing businesses and enter new territories through the formation of new ventures as well as through acquisitions. The acquisition of Idea Kimya is an excellent example of this strategy, demonstrating our commitment to growth whilst providing a substantial platform for further development in Turkey and its neighbouring countries. Our attitude is that we want to seize the day, lead the market and out-class our rivals on product, expertise and service.”
Hakan Gülseren, Managing Director and one of the founders of Idea Kimya, commented: “The integration of Idea Kimya into the Fosroc Group will create new high growth opportunities. Fosroc will provide a thorough range of construction chemicals products and solutions, with the support of their global organisation”.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/europe-cis/18082015/fosroc-to-acquire-majority-shareholding-in-idea-kimya-338/