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[June 2007]
AMCOL Subsidiary Acquires Turkish Bentonite Company
AMCOL International Corporation (Arlington Heights, IL, USA), through its subsidiary AMCOL Minerals Europe Ltd, has announced that it has acquired the shares of Bensan Aktiflestirilmis Bentonit Sanayi ve Ticaret AS. The total purchase price was US$12.3 million.Based in Istanbul, Turkey, Bensan owns or controls considerable bentonite reserves and serves a diverse market base. Turkey is a leading global producer of white bentonites for specialised applications.
"Turkey has been a focus for exploration and development of high-quality white bentonites for our detergent, paper and specialty applications for more than two years," said Larry Washow, AMCOL President and CEO. "There is also an attractive foundry market in Turkey with good growth prospects."
"This acquisition gives us a footprint we haven't had before in Eastern Europe and the Middle East," said Tony O'Reilly, Managing Director, AMCOL Minerals Europe. "These are areas that are developing nicely for our businesses, and this provides us a base for shipping exports further into the region."
The Bensan acquisition gives AMCOL Minerals Europe an operational base in north-west Turkey, where port logistics are good. It also represents a number of synergies for existing AMCOL businesses.
AMCOL Minerals Europe Ltd is a wholly owned subsidiary of AMCOL International Corp. AMCOL International produces and markets specialty mineral products for industrial, environmental and consumer related applications. The company operates in four industry segments: minerals, environmental, oilfield services and transportation.
www.amcol.com
ENDS