Ravago Acquires Two EPS Producers

Belgium-based Ravago Group has acquired two expandable polystyrene (EPS) producing companies: Monotez SA, based in Athens, Greece; and Eastchem AS, based in Izmir, Turkey. Both companies are active in producing and selling expandable polystyrene (EPS), which is used as a raw material to produce expanded polystyrene products, mainly in thermal insulation boards and various packaging materials. The combined capacity amounts to more than 200,000 tons per year.

The Ravago Group represents more than 3.4 million metric tons of annual polymer sales serving 40,000 active customers through 200 offices across more than 50 countries worldwide. Ravago’s production operations consist of 23 manufacturing facilities, 18 of which are recycling and compounding plants in North America, Europe and Turkey with a combined annual capacity of more than 500,000 metric tons. The company operates five production plants in Belgium, Greece, Turkey and Russia that are offering finished product solutions for the building and construction sector.

Monotez was founded in early 1960s and initially produced boards of expanded EPS used for thermal insulation. In the 1970s the company's main activity switched to produce EPS as a raw material. The annual production has grown to 70,000 tons per year. The factory is located in Athens, Greece and 80 percent of the sales are exported into Europe and the Mediterranean region.

Eastchem was created in 2006 and is located in Izmir, Turkey. Total capacity is more than 150,000 tons per year. The company manufactures products for both the local Turkish market and for export to former CIS (Commonwealth of Independent States) countries.