Swedish chemical giant expands into Turkish market with $56.5M acquisition
The photo shows the Illinois facility of Swedish chemical giant HEXPOL in the U.S. (Photo via hexpol.com)
HEXPOL, a leading Swedish chemical company, has acquired 80% of the shares in Izmir-based independent cable compounder Kabkom in a deal worth €54 million ($56.5 million).
The agreement also includes an option to purchase the remaining 20% of shares at a later date.
According to the company’s statement released on Feb. 21, HEXPOL aims to enhance its development of halogen-free flame-retardant and cross-linked materials.
“With this acquisition, we broaden the capabilities of the HEXPOL Group in the fast-growing wire and cable market,” CEO Klas Dahlberg said.
One of Türkiye’s leading cable company
Founded in 2011, Kabkom is one of Türkiye’s largest independent cable compounders, generating approximately €30 million in annual sales.
The company operates a 15,000-square-meter (161,458 square feet) facility in the Tire Organized Industrial Zone, Izmir, producing high-performance thermoplastic and thermoset cable compounds. It employs nearly 100 people.
Hexpol, founded in 1893, is a subsidiary of Swedish industrial technology company Hexagon, which employs approximately 30,000 people and generates nearly $4 billion in annual revenue.
