United Initiators GmbH (UI) announces today that it has acquired 100% of the shares of Hidrojen Peroksit A.S., (HPAS), a single plant producer of different qualities and dilutions of Hydrogen Peroxide (H2O2) in Turkey on July 10, 2019. The final Closing of the transaction is subject to certain conditions precedent, which are expected to be fulfilled in the third quarter 2019.
HPAS has 2 production lines for H2O2 on a site in Bandirma, just South of Marmara Sea, including several Steam Reformers to produce H2 and its own Cogen-unit for electricity and steam generation.
UI and the Company will invest strongly in improving the plant’s efficiency and substantially increasing the plant’s output of H2O2.
HPAS sells its products mostly into Turkey, as well as exports its products to surrounding countries.
Ed Hoozemans, CEO of United Initiators, comments : “The acquisition of HPAS will allow UI to more extensively participate in non-Polymer applications, such as Textile, Mining, Water Treatment, Electronics, Fish and Poultry farming and general Disinfection. Based on its integration into H2O2, UI will develop different value chains and explore options of downstream integration in existing end uses.
H2O2 is very close to our core, and will offer multiple opportunities for UI to expand its presence in markets relevant to us.”