Sun Chemical completes acquisition of assets of Turkish printing inks company, ÇBS Printas

Sun Chemical Turkey has completed its acquisition of the assets of ÇBS Printas, a publicly-traded company in Turkey engaged in the printing inks business. ÇBS Printas is a member of the ÇBS group of companies.
 ÇBS Printas is a leading supplier of paste inks used for publication and commercial printing in Turkey and other countries in the Middle East.
"Turkey and the Middle East represent a growing market for high-quality printing," said David Meldram, president, Sun Chemical European Inks. "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."
ÇBS is one of Turkey's largest suppliers of decorative paints and automotive paints, according to Alì Çavusoglu, Chairman of ÇBS. "We are happy to work with Sun Chemical, and believe this sale will give the customers of ÇBS Printas access to the technology of the ink industry's leading supplier, helping the Turkish printing industry to grow even further."

 

Sun Chemical has become the first ink supplier to announce price increases in Europe, a month after similar rises were revealed in North America. The company has announced a rise of 3-7% in its inks and coatings for flexible packaging which came into effect on
1 November 2004.

Sun Chemical corporate vice president Europe Michael Griem said that reductions in operating costs and improvements in productivity had been "overrun" by escalating raw materials costs.  He said that without the rises it was impossible to "adequately reinvest in our business or sustain a minimum acceptable level of return on capital employed".
The statement follows an identical announcement from Sun Chemical for its North American markets in October and warnings from the British Coatings Federation of likely 5-15% price rises in 2005.