Safic-Alcan Acquires Turkish Engineering Plastics Company Interplast

Headquartered in Paris with offices in more than 25 countries including China, India and the United States, international chemical products distributor Safic-Alcan, a French group with 2015 revenue of EUR 465 million, has acquired all shares of Turkish company Interplast. Safic-Alcan, which acquired a 51 percent stake in Interplast—founded in 2004—in 2011, accelerated the purchase of the remaining shares originally planned for 2018 due to the company's rapidly increasing profitability and rising business performance. Reha Gür, founder member of Eurotec and Interplast and Chairman of the Board of PAGDER (Plastic Manufacturers Association), noted that this significant acquisition represents an important gain for Turkey's plastics sector. Gür stated: "Despite all the negative developments in the world and our country, Turkey will continue to attract foreign investors thanks to successful and reliable entrepreneurs. Interplast is a successful example of this."

Agreement Signed for Purchase of All Shares

All shares of Interplast, one of the companies founded in 2004 alongside Eurotec, have been acquired by French group Safic-Alcan at a time when investments have come to a standstill. An agreement for the purchase of all shares was signed between Safic-Alcan—founded in 1847 with offices in more than 25 countries including China, India and the United States, and operating in EU countries, Turkey, Eastern Europe, China and the United States—and Interplast.

EUR 21 Million Revenue and Rising Success Curve Accelerated Full Share Acquisition

Interplast, which had steadily increased profitability since its founding and achieved remarkable business development performance, was a distribution company established to enable those unable to procure products from the free zone to access the products of Eurotec, a compounder operating in the "engineering plastics" field. With more than 50 suppliers from more than 20 countries primarily in the Balkans, the Caucasus, Central Asia, the Middle East and North Africa, Interplast had 2015 revenue of EUR 21 million. Its 51 percent stake was purchased in 2011 by French Safic-Alcan, which wanted to enter the Turkish market, though no changes were made in management.

Interplast's Product Range Will Expand!

Reşit Ronabar, Chairman of the Board of Eurotec and Interplast, commented on the agreement regarding Safic-Alcan's acquisition of all shares of Interplast: "We had agreed that Safic-Alcan would acquire a 24.5 percent stake—half of the remaining shares beyond the 51 percent stake it acquired in 2011—in 2016, and the remaining shares in 2018. However, since 2011, Interplast has demonstrated such rapid business development performance and increasing profitability that... Seeing with this remarkable success curve that the amount it would pay in 2018 would be much higher than in 2016, Safic-Alcan decided to act quickly and completed the acquisition of all shares. Interplast, which has now completed the sale of all its shares, will continue to serve as the Turkish distributor for Eurotec, and in addition to Eurotec products, will now also conduct sales in the cosmetics, rubber, paints and coatings sectors."

An Important Gain for Turkey's Plastics Sector!

Reha Gür, founder member of Eurotec and Interplast and Chairman of the Board of PAGDER (Plastic Manufacturers Association), also noted that this significant acquisition represents an important gain for Turkey's plastics sector. Gür stated: "In an economic world that has become increasingly sluggish with global economic uncertainties and risks, as well as escalating terrorist attacks that we all condemn in our country and around the world, and with investments having come to a standstill, Turkey will continue to attract foreign investors thanks to successful and reliable entrepreneurs. Interplast is a successful example of this."

Interplast Has an Incredible Distribution Reputation in the Thermoplastics, Textiles, Adhesives, Cosmetics, Personal Care and Pharmaceutical Sectors!

Martial Lecat, CEO of Safican, the company acquired Interplast's 100 percent stake and is affiliated with the Safic-Alcan group, stated in a comment on the matter that Interplast has an incredible distribution reputation in the thermoplastics, textiles, adhesives, cosmetics, personal care and pharmaceutical sectors and an extremely professional team.