ZARAGOZA, Spain, March 11, 2014 (Press Release) - SAICA has announced the acquisition of OMK the Turkish manufacturer of corrugated cardboard as part of its strategy to increase the footprint of the group in the East of Europe, to better support key customers as well as locally based businesses.
Access to reliable, high quality packaging design and print will be a key requirement for SAICA's customers to capitalise on the rapidly growing consumer market in Turkey, where GDP is forecast to grow at 4.5 % between 2014 and 2020.
OMK based in Eskisehir, North West Turkey, employs 260 people in the manufacture of corrugated cardboard and has sales of approximately 20 million euros.
SAICA believes that that the corrugated market in Turkey will grow strongly and has the potential to be one of the largest in Europe, driven by the demographics of the country and the robust record of economic growth.
"This is an important acquisition for SAICA as it not only gives us a strong position in a rapidly developing market but also enables us to better serve our key customers throughout their European operations," said Ramón Alejandro, President of SAICA.
"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. 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," continued Mr Alejandro.
As a privately owned company SAICA invests for the long term and the broader strategy is to build an integrated sustainable model involving recycled containerboard making, corrugated manufacture, recovering of paper for recycling and environmental services in much the same way as has been so successful in other European markets, where the template is now well established.
This is the second significant acquisition SAICA has made in 2014 following the announcement in February that Spanish manufacturer Microlan is to become part of the group.