8 January 2008
Azelis begins 2008 with the announcement of its entry into the Turkish chemicals distribution market. It has signed an agreement to acquire Istanbul-based Tara Kimya A.S.
Tara works with important international principals and has been established since 1986 serving the paints, varnishes, inks, adhesives and construction sectors. The company achieved sales of more than €10 million in 2007 employing 14 staff. It operates two warehouses in Istanbul supplying both the Asian and European parts of the country.
Azelis CEO Udo Wenzel said: “Turkey is an important and rapidly growing market. Acquiring an already successful company like Tara, with its professional management team and strong platform of blue chip principals, gives Azelis a firm foothold from which to develop in this region. We already have plans to diversify and grow in Turkey through a number of further strategic acquisitions which are in the pipeline.”
For further information contact:
Dianne Nott Tel +44 (0)1925 267557 Mob +44 (0)7860 272754