Turkish conglomerate Oyak Group (Ankara; www.oyak.com.tr) has now purchased the entire share capital of Austria's Chemson Polymer-Additive (Arnoldstein; www.chemson.com) from the private equity fund Buy-Out Central Europe II (BOCE, Vienna / Austria; www.buy-out.at) – see Plasteurope.com of 04.09.2013. Both the buyer and seller said they have agreed to keep agreement details confidential.

Thus, with the transaction now complete and the late 2012 acquisition of another Turkish entity, Oyak subsidiary and plastic additive producer Akdeniz Kimya (Izmir; www.akdenizkimya.com), the foundation has now been laid for the creation of a new, backwards integrated company, ranking as one of the global leaders in the production of PVC stabilisers, according to management in Ankara.

Chemson says it currently has production capacity of about 100,000 t/y of PVC additives. With more than 500 employees, it operates production and sales sites in the UK, Germany, Netherlands, the US, Brazil, Australia and China. In fiscal year 2011 it recorded revenues of roughly EUR 250m.

Founded in 1961, Oyak operates as both a pension fund – Turkey's largest – and private equity investor, counting more than 260,000 members and employing roughly 35,000 individuals.