MAPEI Makes Turkish Investment
MILAN, Italy – Mapei SpA now operates a plant in Turkey after fully acquiring Ankara-based Wallmerk Construction Chemicals Building Industry and Trade Inc.
Founded in 2007, Wallmerk Construction is located on a total surface of 247,569 ft², with 53,819 ft² of covered space. The company’s products include waterproofing systems, special mortars and mortars for anchoring, tile adhesives and grouts, materials for thermal insulation, indoor and outdoor coatings, industrial floorings and other construction materials; last year, it recorded more than €10 million in revenues.
Click photo to enlarge“We are very proud of this acquisition,” stated Veronica Squinzi, MAPEI Group internationalization and business development manager. “It allows us to effectively enter the Turkish market, which we already serve through the import of our products produced in other European countries.
“Our internationalization strategy is based on a closer proximity to local customers and on a reduction of the transportation costs while constantly maintaining excellent quality thanks to our Research and Development centers. The Wallmerk acquisition moves us forward in this direction, allowing us to serve a very active and dynamic market in Turkey, which represents an important commercial connection from Europe to Asia.
“Today many investments are forecast for Turkey, both in the residential and non-residential buildings markets, and also in big infrastructural projects. In addition, the Turkish international contractors are among the most active in the world. It was natural for MAPEI to enter this market, as our goal is to become an important player in the Turkish building industry thanks to our technologically advanced products accompanied by a very strong, continuous environmental commitment.”
The steady internationalization of MAPEI Group is strictly in concert with the steady revenue growth of the last 20 years. In 1990, aggregate revenues totaled 150 billion lira; in 2012, the total exceeded €2 billion, with 70% coming from international markets.
MAPEI now operates 63 plants in 31 countries on five continents; among investments undertaken in 2012, the company opened a new plant in India, and added a third plant in France and a second one in Poland. The overall total includes 18 plants in the Western Hemisphere, with headquarters for MAPEI Americas in Deerfield Beach, Fla.
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