News Article 2024

 Home / News / 2024

June 4 2024, David R Brown

Telko further expands its European plastics business with an acquisition in Germany

Telko has expanded its plastics business to Western Europe through the acquisition of Polyma Kunststoffe GmbH & Co KG in Hamburg, Germany. The acquired company is a well-known distributor of engineering plastics. The acquisition provides Telko access to the German market, which is the biggest plastics market in Europe.

The transaction strengthens our engineering plastics business and opens new markets for Telko in Germany and neighboring countries

Mikko Pasanen
CEO of Telko Ltd

“The transaction strengthens our engineering plastics business and opens new markets for Telko in Germany and neighboring countries. This is yet another step of Telko's compounder strategy, which focuses on high value-added products and further growth”, says Mikko Pasanen, CEO of Telko.

Telko's strong supplier relationships and customer expertise combined with Polyma's business portfolio is expected to create synergies for significant business development over the coming years. In 2024 Polyma's net sales are expected to reach EUR 15 million and EBIT EUR 0.5 million and CEO, Alexander Maul, will be continuing in his current role leading the business.

Telko aims to accelerate its growth through acquisitions to achieve its strategic goals across all three business areas, and it has a solid pipeline of potential acquisition candidates. The company remains confident in its ability to keep up the active M&A pace. Additionally, Telko will seek to strengthen its market share in existing markets through organic growth.

About Telko Ltd
With local offices in 17 countries and sales to over 30 countries, Telko is 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. Telko serves over 7,000 customers with industry-leading expertise, strong partnerships and renowned service capabilities. Telko is 100% owned by Aspo Plc, listed on Nasdaq Helsinki. As a member of the Aspo family, Telko has a strong history and business expertise in the Eastern market, making Telko a reliable partner for both customers and principals. In 2023 Telko reported annual net sales of EUR 211 million and has around 250 employees.

Source(s): Telko Press Release

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