Azelis to acquire Turkish additives distributor

ANTWERP, Belgium—Belgian distributor Azelis Holding S.A. is strengthening its rubber and plastics additives capabilities with the acquisition of Turkish specialty chemicals distributor Dagalti Kaucuk San.

Established in 1980 in Istanbul, Dagalti is "a leader" in rubber and rubber additives in the domestic Turkish market, said Azelis in an Aug. 18 statement.

The company has 14 employees and supports more than 400 customers, according to Azelis.

CEO Sadik Dagalti will continue leading the business to ensure a smooth transition into the Belgian group.

"Dagalti's extensive product portfolio strategically complements the group's lateral value chain in industrial chemicals," said Azelis.

This, it said, will enhance the offerings and technical expertise provided by Azelis.

The transaction expects to close at the end of the third quarter, after fulfillment of customary closing conditions.