By Cameron Chai
Nitto Denko has inked an agreement to purchase Bento Bantçýlýk ve Temizlik Maddeleri Sanayi Ticaret and its sales subsidiary, Bento Pazarlama ve Ticaret (Bento).
Bento is the industrial tape producer in Turkey. Through this acquisition, Nitto Denko has aimed to increase the sales from the tape business by 2.5% in Europe within five years and other adjacent areas through its European operation.
The bullish emerging markets are gaining significance in today's worldwide economy. Nitto Denko has focused on attaining a major market share in many global areas, specifically in future economies together with niche products. In addition, the company continues to follow up its exclusive Global Niche Top strategy that has an objective to reach the top share in worldwide-integrated and niche markets.
Nitto Denko has established its first subsidiary in Turkey, Nitto Denko Turkey Bant Materyalleri San. ve Tic., two years ago. The subsidiary carries out material processing and marketing of tape products for serving the demands of tape products in bullish household appliances and automotive segments. Nitto Denko has been looking for possible acquisition of strong tape producers in the Turkish market that may reinforce its position by localization of its cost effective operations and attaining an ideal supply chain.
Additionally, Nitto Denko will improve its prompt customer service and cost competitiveness that will direct the company to advance its European tape business and in the upcoming markets like North Africa and Middle East.
A wide array of cost-effective tape products of Bento that targets the emerging markets is ideal for harmonizing the previous one of Nitto Denko.