Sirius Plastik has acquired all outstanding shares of PIA Akrilik from Plaskolite Inc. ("Plaskolite"), North America's largest manufacturer of engineering thermoplastic sheet and profile products. Established in 2013 as a joint venture between Plaskolite and the Çeker family, PIA Akrilik is the leading Turkish manufacturer of cast acrylic sheets and exports its products to 34 countries.
Sirius Plastik is owned by the Çeker family, who is also the main shareholder of Isik Plastik, the leading Turkish manufacturer of plastic engineering thermoplastic sheet products. Isik Plastic became publicly traded on Istanbul's stock exchange in January 2021, with nearly 20% of Borsa Istanbul's 2 million investors participating in Isik Plastic's public offering.
Abdullah Çeker, Partner at Sirius Plastik, said, "Following this acquisition, we plan to make additional investments that will further strengthen PIA Akrilik's capital structure. PIA Akrilik stands out for its exceptional product quality and service, and we look forward to supporting its growth into a regional leader in cast acrylic sheet production."
PIA Akrilik sells its products under the Castplas brand. It manufactures cast acrylic sheets for a variety of end markets and uses, including advertising, indoor outdoor decoration, bathtubs, sound barriers, TV screen protectors, airplane and helicopter windows, aquariums, lighting, and display stands. PIA Acrylic operates a 26,376 m² production facility in the 2nd Organized Industrial Zone of Malatya, where it has an annual production capacity of 7,500 tons.
About Sirius Plastik
Founded in 2013 by the Çeker family, Sirius Plastik Sanayi ve Ticaret Limited Sirketi is the special purpose vehicle which was established to hold Pia Akrilik shares.
About PIA Akrilik
Founded in 2013 as a joint venture between Plaskolite and the Çeker family, PIA Akrilik is the leading Turkish manufacturer of cast acrylic sheets in Turkey. PIA Akrilik sells its products under the Castplas brand. It manufactures cast acrylic sheets for a variety of end markets and uses, including advertising, indoor outdoor decoration, bathtubs, sound barriers, TV screen protectors, airplane and helicopter windows, aquariums, lighting, and display stands.
About Plaskolite
Founded in 1950 in Columbus, Ohio, by Donald G. Dunn and family, Plaskolite, LLC is the leading North American manufacturer of engineering thermoplastic products. Plaskolite is owned by Pritzker Private Capital along with the Dunn family, management and other co-investors. Plaskolite's customized products are used in a wide variety of applications, including windows, doors, lighting, signs, point-of-purchase displays, transportation, security and bath products. Plaskolite serves a diverse customer base including distributors, OEMs and retailers. For more information, please visit https://plaskolite.com/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211223005293/en/
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