ANKARA (Turkey), November 10 (SeeNews) - German thermoplastics producer Simona AG said it plans to buy a 70% stake in Turkish PVC foam sheets mnufacturer MT Plastik AS for an undisclosed price.
The planned acquisition is expected to help Simona reinforce its market position in the area of PVC foam products, the German company said in a statement on Monday.
Subject to final antitrust approval, the transaction is expected to close on December 31.
Established in 2007, MT Plastik manufactures products that are used primarily in the field of digital printing, advertising and structural engineering. The company employs around 50 people.