Işık Plastik Acquires Ug Plast Inc.
ISTANBUL- Işık Plastik has acquired all outstanding shares of Ug Plastic Inc. from Shamil Berdiev, main shareholder of Ug Oil Plast, globally leading manufacturer of multiwall polypropylene , multiwall and solid polycarbonate sheets.
Işık Plastik is the leading Turkish manufacturer of thermoformed food packaging products , plastic compound&masterbatch and industrial plastic sheet products. Işık Plastik became publicly traded on Istanbul’s stock exchange in January 2021, with the participation of 2 million investors to the public offering. Işık Plastik operates two production facilities with a total production area of 28.000 sqm in Gebze Organized Industrial Zone in Türkiye, where it has an annual production capacity of 65.000 tons.
Abdullah Çeker, CEO of Işık Plastik, said, “We entered the US market in 2016 with the acquisition of Sirius Plastic LLC and overtime we have become a reliable partner of our customers. Following the Ug Plast Inc transaction not only we will reduce lead times and create cost advantages, we will also acquire a new customer base. We look forward to becoming a major player in the United Sates plastic sheet market.”
Ug Plast sells its products under the US Plast brand. It manufactures multiwall polypropylene , multiwall and solid polycarbonate sheets for a variety of end markets and uses, including DIY, automotive, lighting, agriculture, medical & healthcare, transportation, electrical & electronical equipment, construction, packaging, machinery and security glazing markets. Ug Plast operates a 8,000 m² production facility in York, PA where it has an annual production capacity of 11,500 tons.
About Işık Plastik Founded in 1988 Işık Plastik Company is the leading Turkish manufacturer of thermoformed food packaging products , plastic compound&masterbatch and industrial plastic sheet products. The shares of Işık Plastik have beentraded in Borsa Istanbul since January 2021. Işık Plastik operates two production facilities with a total production area of 28.000 sqm in Gebze Organized Industrial Zone in Türkiye, where it has an annual production capacity of 65.000 tons. For more information, please visit https://www.isikplastik.com
About Ug Plast Founded in 2017 as a New Jersey corporation Ug Plast sells its products under the US Plast brand. It manufactures multiwall polypropylene , multiwall and solid polycarbonate sheets for a variety of end markets and uses, including DIY, automotive, lighting, agriculture, medical & healthcare, transportation, electrical & electronical equipment, construction, packaging, machinery and security glazing markets. Ug Plast operates a 8,000 m² production facility in York, PA where it has an annual production capacity of 11,500 tons. For more information, please visit https://usplast.com