January 31 2023, David R Brown
Telko acquires Eltrex, a Polish chemicals distribution company
Telko, a subsidiary of the Finland-headquartered Aspo PLC conglomerate, has acquired Eltrex is a Polish distributor of specialty chemicals and industrial packaging materials. The company's wide offering includes raw materials for coatings, flooring and household chemicals industries. The company is located in Goleszów, in southern Poland. The company's annual net sales are approximately EUR 8 million with an operating profit slightly under one million euros.
Entry to Polish chemicals market is a significant step on our strategic growth path in Europe
Niko Nilsen
Vice President, Telko Chemicals
Telko's growth stratgey combines organic growth and accelerated growth through acquisitions. So this transaction represents an important milestone towards their goals. Telko already has plastics distribution in Poland, but no significant business in chemicals before this transaction.
“Entry to Polish chemicals market is a significant step on our strategic growth path in Europe. Eltrex is a very well-known distributor of specialty chemicals, especially to the industrial coatings segment in Poland. They are representing several world class brands, such as Allnex, Lanxess and Wanhua, who produce specialty resins, biocides and additives. I'm looking forward to start working with the professional team of Eltrex and continuing their successful work in the Polish market”, says Niko Nilsen, Vice President, Telko Chemicals.
The move follows Telko's recent divestment of its Russian (Telko OOO) and Belarusian (FLLC Telko) subsidairies as a result of the Ukrainian war.
About Telko
Telko is a leading distributor and solution provider for converters and brand owners looking to safeguard their business with future-proof plastics, chemicals or lubricant solutions. This is done by using industry-leading expertise, strong partnerships and renowned service capabilities to improve Telko’s customers' production lead times, material efficiency, and financial and environmental performance. Telko has companies in Finland,
the Baltic countries, Scandinavia, Poland, Romania, Ukraine, Kazakhstan, Uzbekistan and China. In 2021, Telko reported revenues of EUR 268.8 million and around 300 employees.
Source(s): Telko Press Release
Further Information
Visit: https://www.telko.com