Akkim Kimya Acquires USK Kimya

Competition Authority approves Akkim Kimya's USD 63 million acquisition. USK Kimya, Turkey's leading carboxymethyl cellulose (CMC) producer, officially became part of Akkim. Akkim Kimya, a subsidiary of Akkök Holding, has received approval from the Competition Authority for the acquisition of USK Kimya. USK Kimya, one of the world's leading carboxymethyl cellulose (CMC) producers operating in Aydın, officially joined Akkim Kimya on 1 March upon completion of the transaction. This adds another strategic investment to Akkim's portfolio as Turkey's leading chemical substance producer.

Revenue target of USD 600 million

Onur Kipri, General Manager of Akkim Kimya, expressed his wishes that the acquisition would be beneficial for employees of both companies and signaled that investments would continue. Kipri, noting that they have completed a total of USD 200 million in acquisitions over the past 6 years, said: "We continue to closely monitor organic and inorganic growth opportunities. With our growth-oriented investments, we aim to increase our revenue to USD 600 million in the next 5-year period. By incorporating USK Kimya into our company, we have seized the opportunity to double our annual exports. We are pleased that USK is joining us with its strong market position, high know-how capability and export capacity." Starting with an acquisition investment in 2021, Akkim entered this sector in 2015 by incorporating Akcoat, one of the world's largest enamel and ceramic frit producers, into its group, and two years later acquired Dinox, a German chemical sales and marketing company. Additionally, Megacolor, a Spanish company producing ceramic printing inks, was acquired by Akcoat, which is a subsidiary of Akkim.