Acquisition of MT Plastik

Eric Schönel

Vice President Marketing & Communication SIMONA AG

Phone +49 (0) 67 52 14-997
Fax +49 (0) 67 52 14-738
ir@simona-group.com

12/21/2020 Company

On 9 November 2020, SIMONA AG had announced that it was planning to acquire the majority interest in the Turkish market leader for PVC foam sheets, MT Plastik AS, Düzce, Turkey, and that the transaction was to be closed by 31 December 2020.

This scheduled date had been subject to the approval of the relevant antitrust authorities, which has now been granted. Owing to the sudden death of Tufan Kalkan, majority shareholder of MT Plastik, the closing date will be delayed to the first quarter of 2021. All parties involved in the transaction remain committed to completing the acquisition as planned. However, due to the death of the majority shareholder, it will not be possible to close the deal by the end of the year.

"We are immensely saddened by the sudden passing of Tufan Kalkan. Over the course of our negotiations, we have come to know him as a likeable person and an exceptional businessman. Our thoughts are with his family and friends, whom we wish strength in their mourning," says Matthias Schönberg, CEO of SIMONA.

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