Paper-based packaging producer SAICA Group has acquired corrugated board manufacturer OMK in Turkey.
The move is part of the Spain-based company’s strategy to increase its footprint in the east of Europe, and to better support key customers and locally based businesses.
According to SAICA, access to reliable, high quality packaging design and print will be a key requirement for its customers to capitalise on the rapidly growing consumer market in Turkey, where GDP is forecast to grow at 4.5% between 2014 and 2020.
Turkey has the potential to be one of the largest corrugated markets in Europe, the company says, driven by the demographics of the country and a “robust record” of economic growth.
“OMK is an excellent company and we have much to learn from each other as we look to integrate our operations and push forward for continuous improvement and innovation,” says SAICA president Ramón Alejandro.
“In recent years we have made a number of significant acquisitions across Europe and therefore we know how to get the best from those companies we acquire effectively and efficiently.
“Key to this is recognising that both sides have much to contribute, and therefore building a combined culture that enables this to happen is very important and will be a key focus of our early work together.”
SAICA’s acquisition of OMK, which employs 260 people and has sales of approximately €20 million, follows the announcement in February 2014 that Spanish manufacturer Microlan is also to become part of the group.
www.saica.com
