September 30, 2010: Kronospan today announced that it has completed an investment into SFC Entegre Orman Urunleri Sanayi ve Ticaret AS, based in Kastamonu, Turkey.
The acquisition includes SFC’s MDF/HDF and particleboard production as well as its melamine facing capacity. Wholly-owned subsidiary of SFC, Baks Bati Kimya AS, which produces resin and formaldehyde for the company’s own panel production, also formed part of the purchase, while door producer Dortek, which was part-owned by SFC, did not.
According to figures published by WBPI, SFC has particleboard capacity of 50,000m3/year and fibreboard capacity of 150,000m3/year.
The existing management will be retained, led by Kerem Hasan Ceritoglu and Kronospan says it is working with them to further develop the business.
In a separate move, Kronospan is to transfer its representative office in Istanbul into a new Turkish company “to further strengthen Kronospan’s interests in this region”.
