HOUSTON (ICIS)--Vinmar has acquired a controlling interest in Veser Kimya, a specialty chemicals distributor in Turkey, the Houston-based global chemical and plastics marketing and distribution company said on Thursday.
Veser operates four warehouses in Istanbul, Izmir and Adana and its 2017 revenues are expected to exceed 200m Turkish Lira ($50m).
The company has business relationships with major chemical producers, including BASF, Huntsman, Kolb, Clariant, Givaudan and others, Vinmar said.
For Vinmar, which has been in the Turkish market for more than 25 years, the acquisition marks its entry into specialty chemicals distribution, “an important step in expanding the company’s product and market segment diversification”, it said.
Financial terms were not disclosed.