SIMONA to acquire a 70% stake in MT Plastik.

SIMONA, global manufacturer of thermoplastic products, agreed to acquire a 70% stake in MT Plastik, a provider of PVC foam sheets. Financial terms were not disclosed. "The acquisition of MT Plastik is a decisive step forward and illustrates our commitment to the market for digital printing and advertising applications. We want to establish ourselves as Europe's market leader for PVC foam sheets with regard to quality, breadth of product portfolio and market share. In acquiring MT Plastik, we have laid the foundation. The company is highly profitable, in addition to being very well organised and benefiting from lean structures. Furthermore, Turkey as a location and the high share of exports already achieved by MT Plastik give us access to other interesting markets in Europe and the Middle East," Matthias Schonberg, SIMONA CEO.