U.S. giant buys majority share of Turkish chemistry firm

Houston based Vinmar International bought 90 per cent share of Turkish Veser Kimya, a leading chemistry company founded in 1988.

This is one of the most significant acquisitions by a U.S. company, economy newspaper Dünya said.

Veser was founded in 1988 and has been the main Turkish distributor to the global chemistry industry, including Vinmar.

Vinmar, founded in 1978, has over $5 billion in yearly sales, and is estimated to have paid $50 million for 90 percent of Veser.

Veser had forecast 200 million liras of revenue in 2017.