Strategic acquisition in Turkey

Soudal makes a strategic acquisition in Turkey
On 31 October 2011 Soudal NV will take over all of Işik Group's production and sales activities for sealants, adhesives and PU foams from the family shareholder. This take-over is a sign of Soudal's ambitions to expand and make its presence felt around the globe.
As of 31 October 2011 Soudal will be solely responsible for all aspects of Işik Group's activities for sealants, adhesives and PU foams, from sales and marketing, production and logistics through to communication and finance.  Soudal and Işik will work closely together to ensure that the transition period runs smoothly. Soudal is committed to providing the level of cooperation and service which Işik's existing clientele expects.
All of Işik's activities concerning the production and sales of PVC curtain rails and panels are not included in this transaction and will continue to be run exclusively by Işik Group. Soudal will eventually merge the activities it has acquired with the current commercial activities of its wholly owned subsidiary Soudal Insaat Malzemeleri Tic.A.S. in order to take a leading role in the rapidly growing Turkish market and the Arabian peninsula.
This transaction will considerably strengthen Soudal's market position in Turkey and neighbouring countries. Soudal will increase its turnover by around 10 million euros and will take over the entire workforce of 46 staff as part of the transaction.  In terms of the products and the distribution channel, the activities acquired will be fit in perfectly with Soudal's business model.
The Turkish construction industry is one of the largest and most dynamic construction industries in the world.  The domestic market, with its young and rapidly expanding population, provides plenty of opportunities, while Turkey is also an excellent springboard for expansion into neighbouring countries.  With its strong focus on product development and innovation, Soudal is well placed to further expand its position.
Established in 1966, the  Işik Group has been active since 1998 in the production and commercialisation of sealants, adhesives and PU foams, serving retailers and professional users alike. With almost 20 million units sold in 2010, it is a medium-sized supplier on the Turkish market.
Soudal is the largest independent manufacturer of sealants, PU foam and adhesives in Europe with a turnover of 400 million euros and seven production sites across four continents. Soudal serves the professional construction sector, DIY, and the industrial sector in over 100 countries and was founded 45 years ago by its chairman Vic Swerts.