PRESS RELEASE
Contact(s):
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| Chris Morrissey
Sun Chemical Corporate
Phone: +1 708-236-3533
chris.morrissey@na.sunchem.com |
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Sun Chemical to acquire assets of Turkish printing ink manufacturer
Düsseldorf, Germany
- May 12, 2004 -- Sun Chemical has announced its intent to acquire the assets of ÇBS Printas, the printing inks business of ÇBS Holding, a publicly-traded company in Turkey. The announcement was made at drupa 2004, a major printing industry show being held in Dusseldorf.
ÇBS Printas is a leading supplier of paste inks used for publication and commercial printing in Turkey and other countries in the Middle East and Balkan areas. Sun Chemical, which is the world's largest manufacturer of printing inks, already is an ink supplier in the region through its Coates Lorilleux division, primarily in the area of liquid inks for packaging.
Upon completion of the transaction, the company will be known as Sun Chemical Printas. Among major customers of ÇBS Printas are Hurriyet and Sabah, Turkey's two largest newspapers. It is based in Gebze-Kocaeli, just outside Istanbul.
"Turkey and the Middle East represent a growing market for high-quality printing," said Wes Lucas, Chairman, President and CEO of Sun Chemical. "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 Holding is also one of Turkey's largest suppliers of decorative paints and automotive paints, according to Alì Çavusoglu, Chairman of the group. "We are happy to work with Sun Chemical, and believe this sale will give our customers access to the technology of the ink industry's leading supplier, helping the Turkish printing industry to grow even further."
About Sun Chemical
Sun Chemical, the world's largest producer of printing inks and pigments, is a leading provider of materials to packaging, publication, coatings, plastics, cosmetics, and other industrial markets. With annual sales of more than $3 billion, Sun Chemical has over 12,500 employees supporting customers around the world. The Sun Chemical Group of companies includes such well-known names as Vivitek, Coates Lorilleux, Gibbon, Hartmann, Kohl & Madden, Swale, Usher-Walker and US Ink. In addition, Sun Chemical has many joint ventures, with the largest being its $1.5 billion Kodak Polychrome Graphics (KPG) joint venture with Eastman Kodak. KPG is a world leader in prepress products, services and equipment.
Sun Chemical Corporation in the United States of America and Sun Chemical Limited in England are subsidiaries of Sun Chemical Group B.V., the Netherlands. Sun Chemical has headquarters in Fort Lee, New Jersey, U.S.A.; Watford, England; and Weesp, the Netherlands. For more information, please visit our Web site at www.sunchemical.com.
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