Telko Acquires German Plastics Distributor to Expand European Operations
Aspo Plc's subsidiary Telko is expanding its plastics business into Germany by acquiring Polyma Kunststoffe GmbH & Co KG. The acquisition grants Telko access to the European market's largest plastics sector.
Helsinki, Finland – Aspo Plc's subsidiary Telko has expanded its operations into Germany through the acquisition of Polyma Kunststoffe GmbH & Co KG in Hamburg. This move grants Telko access to the German market, which is the largest plastics market in Europe.
The acquired company, Polyma Kunststoffe, distributes well-known engineering plastics. The acquisition is expected to strengthen Telko's engineering plastics business and open new markets in Germany and neighboring countries. Telko aims to become a leading European distributor of specialty products.
Mikko Pasanen, Managing Director of Telko, stated that the transaction strengthens Telko's engineering plastics business and is a step towards its compounder strategy, which targets high value-added products and an 8% EBITA goal. Alexander Maul will continue as the CEO of the acquired company.
Telko aims to accelerate its growth through acquisitions and maintains an active pipeline of potential targets. The company also plans to strengthen its market share in existing markets through organic growth.