By Parick Raleigh ERJ On-line news editor
Dusseldorf, Germany-Degussa AG has acquired a majority-51-percent-stake in Egesil, a Turkish silica joint venture based in Adapazari near Izmit. The remaining 49-percent of shares will be held by Ege Kimya AS, said a 14 Jan Degussa statement.
Ege Kimya, a family-owned chemical group, established Egesil two years ago, with Degussa as a 25-percent shareholder. The JV, which supplies the tyre, rubber goods and paint industries, has since increased its capacity to 15 kilotonnes per annum, from 8 ktpa originally.
â€œThe increased participation will achieve a second important step in the enhancement of our market position in precipitated silicas in southeastern Europe and the near East,â€ said Carl Voigt of Degussa's board, in a press statement.