Luxembourg-based insulation foam maker Armacell has acquired the Turkish insulation material manufacturer OneFlex, making an entry to the Turkish market while eyeing surrounding markets.
Armacell intends to utilize Turkey’s strategic location to reach nearby markets easily, according to the press release on its website:
"We will use this excellent basis to expand our geographic reach further in future target-oriented markets. OneFlex has a distribution network that is well established across the region, a very professional production platform, and an experienced management team. In the future, Turkey will serve as a bridgehead to export our flexible insulation materials cost-efficiently across the Middle East, Africa, and Southeastern Europe,” the statement read.
Armacell is considered a world leader in its fields, with 21 production plants in 14 countries.
Source: Sabah newspaper