Sun Chemical to acquire assets of Turkish printing ink manufacturer
Press release from the issuing company
DUSSELDORF, GERMANY - May 12, 2004 - Sun Chemical has announced its intent to acquire the assets of CBS Printas, the printing inks business of CBS Holding, a publicly-traded company in Turkey. The announcement was made at drupa 2004, a major printing industry show being held in Dusseldorf.
CBS Printas is a leading supplier of paste inks used for publication and commercial printing in Turkey and other countries in the Middle East and Balkan areas. Sun Chemical, which is the world’s largest manufacturer of printing inks, already is an ink supplier in the region through its Coates Lorilleux division, primarily in the area of liquid inks for packaging.
Upon completion of the transaction, the company will be known as Sun Chemical Printas. Among major customers of CBS Printas are Hurriyet and Sabah, Turkey’s two largest newspapers. It is based in Gebze-Kocaeli, just outside Istanbul.
“Turkey and the Middle East represent a growing market for high-quality printing,” said Wes Lucas, Chairman, President and CEO of Sun Chemical. “This acquisition will help Sun Chemical expand in this important region and allow us to offer printers the best inks, while providing global perspective and local service.”
CBS Holding is also one of Turkey’s largest suppliers of decorative paints and automotive paints, according to Alì Cavuºolu, Chairman of the group. “We are happy to work with Sun Chemical, and believe this sale will give our customers access to the technology of the ink industry’s leading supplier, helping the Turkish printing industry to grow even further.”
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