KIMPUR
Turkish PU systems supplier on growth track / Second plant in Turkey / JV with Latvian Adamantan
The company’s main facility in Gebze, Turkey (Photo: Kimpur)
The expansion of business planned for some time at PU systems supplier Kimteks Poliüretan (Kimpur, Istanbul, Turkey; www.kimpur.com) is gathering momentum: the Turkish company has not only set up a joint venture with Adamantan SIA (Liepaja, Latvia; www.adamantan.eu) in Latvia, but also plans to build a second plant in Turkey.

The 15,000 m² main plant in Gebze, some 70 km east of Istanbul, is reportedly bursting at the seams – it is already producing at its peak capacity of 120,000 t/y. That’s why Kimpur wants to acquire a plot of land near Düzce, halfway between Istanbul and Ankara.

By 2024, the company wants to build plants for an additional capacity of 50,000 t/y for polyurethane systems. It’s also planning an additional recycling line with a nominal capacity of 5,000 t/y for processing PET waste into polyester polyols, and an EVA line with a nominal capacity of 10,000 t/y.

According to Kimpur, the total investment amounts to EUR 15 mn. The facilities are to be built before the end of 2022. The first machines are expected to be commissioned in 2023. Half of the energy required for the operation is to be provided by a photovoltaic system.

Kimpur CEO Cavidan Karaca wants to finance the investments with an Initial Public Offering (IPO). This had already been planned for December 2021, but was postponed to April 2022 due to the strong fluctuation of the Turkish lira. It was not possible to find out whether the schedule for the IPO would be adhered to.

The joint venture in Latvia with Adamantan, a company that was only established in 2019, will increase Kimpur’s total capacity to nearly 200,000 t/y. Adamantan has its own capacity of about 10,000 t/y and warehouses in Klin, Russia, near Moscow. The recently established SIA Kimpur Europe – 75% owned by Kimpur, the remaining 25% by Adamantan – is expected to reach a capacity of 25,000 t/y of finished PU systems over the next few years.

Karaca aims to shorten delivery times for European customers and establish the site as the core of the future European business, with a focus on Eastern and Southeastern European customers. An enquiry by Plasteurope.com did not reveal whether the project is to be maintained in view of the war in Ukraine.

Related: War in Ukraine threatens material supply from Russia to Turkey

Kimpur mixes readymade systems for solid and flexible foams. Applications include shoe soles, home appliances, automotive, and playground fall protection surfacing. Sales in 2021 were TRY 2.2 bn (just under EUR 135 mn), more than double the previous year’s figure. At the same time, net profit tripled to TRY 316 mn. The company exports approximately 28% of total production, a share that is expected to increase to over 30% this year.

Side note: Women make up more than 40% of Kimpur’s management, which is a rarity, in particular for companies in Turkey – and is most likely because of Kimpur’s female CEO.
13.04.2022 Plasteurope.com [250056-0]
Published on 13.04.2022
Kimpur: Türkisches PUR-Systemhaus auf dem WachstumspfadGerman version of this article...

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