The Dor Chemicals group is continuing its international expansion. Dor Chemicals is now acquiring full ownership of Australian polypropylene sheet manufacturer Shorko for $25 million.
Dor Chemicals acquired European group Moplefan at the end of last year. Moplefan, which manufactures polypropylene sheets in five plants in Italy and Belgium, is one of the world’s leading manufacturers in the field.
The acquisition of Shorko completes the purchase of all of global concern Basell’s polypropylene manufacturing facilities. Basell is the result of a merger between Shell and Basf.
Zvi Mor, chairman of the board of Dor Chemicals and Moplefan, said the acquisition was part of the company’s strategy of wider deployment of its manufacturing, on the way to becoming the world leader in the field. According to Mor, Shorko has an annual production capacity of 20,000 polypropylene sheets, making it Australia’s largest manufacturer in the field.
Mor added that the Shorko acquisition was a result of the opportunity created by Basell’s decision to sell all its holdings in polypropylene manufacturing and focus on polymer manufacturing.
”Globes”: Aren’t you afraid the pace of your acquisitions is too fast?
Mor: ”I think the European acquisition positioned Dor Chemicals as a global company and one of the world leaders. We merged all our business into the European company, including our activity in Israel. I can take satisfaction that the combination of an Israeli company and the Italian and Belgian workers committees gives us the power to move forward without any hesitation.
”The company is in a superb position and is continuing its progress. We have expanded manufacturing and marketing in Europe and have been welcomed with open arms by both the professional unions and the company workers as a whole.”
Will you expand to the Western hemisphere with your next acquisition?
”I am negotiating to acquire another company – a world leader. Its activities include the Western hemisphere.”
Dor Chemicals, a Tel Aviv Stock Exchange-listed company, is controlled by the Dankner family.
Published by Globes [online] - www.globes.co.il - on May 15, 2002