Ravago Group has acquired the EPS producers Monotez and Eastchem
Ravago has acquired 100% of the shares of Monotez SA and Eastchem AS. Both companies are active in the production and sales of Expandable Polystyrene (EPS). EPS is used as a raw material, through its expansion, for the production of expanded polystyrene products, mainly in thermal insulation boards and various packaging materials. The combined capacity amounts to over 200 000 ton per year.
Monotez was founded in early 1960s and initially produced boards of expanded EPS used for thermal insulation of buildings. As from the early 1970s the company's main activity switched to the production of EPS as a raw material. The annual production has progressively grown to the level of 70 000 ton per year. The factory is located in Athens, Greece and 80% of the sales are exported into Europe and the Mediterranean region.
Eastchem was created in 2006 and has its factory in Izmir, Turkey. Total capacity is over 150 000 ton per year and products are both for the local Turkish market and export, ao. to former CIS countries.
Monotez and Eastchem have developed very performing manufacturing technologies and experience. This expertise in combination with the sourcing and broad commercialization capabilities of Ravago will allow the companies to grow further.