Font size: Larger |SmallerSunday, March 13, 2011ISTANBUL-Anatolian News Agency
Boydak Holding, a Turkish group involved in several companies, acquired a Russian and a Ukrainian plant for $ 20 million to boost your business furniture.
They are the first furniture production investment group based in Kayseri abroad and occurred through Boydak Boydak trade foreign company subsidiary, according to information provided by the company.
"It is not easy for Turkey to do trade with Russia and the Ukraine, so let's get into these markets, producing there," said Memduh Boydak, Executive Director of Boydak Holding, in a press meeting in Istanbul.
The acquisition of Strong based in Poland aimed at overcoming difficulties regional exports and a possible increase in demand in these countries, said company officials. Boydak plans to invest $ 60 million over five years on additional buildings and machinery to diversify production with beds, armchairs and sofas.
The company is pointing to the volume of annual revenue of $ 100 million with 600 employees by the end of its growth plan for five years.
The acquisition is part of wider plan to make $ 300 million in investments in 2011, said officials.
Noting that other Turkish companies are exploring the production in the same region with newly acquired plants, the CEO said: "there are some investors in Turkey who opens our horizons. Along with many Turkish brands there, bank acquisition [Bulgarian] Bank Sofia encouraged us. "
Member of Boydak Murat Bozda said the company would produce in Ukraine and in Russia under the name of Bellona, one of two major furniture brands in Turkey Boydak, after keeping the current tag name for each of the companies for a year.
Previously, the company opened stores in Russia but closed them all due to turbulence in the country in 1998, he said.
Commenting on the company's business in Libya, he said: "we have five stores in Libya. We used to receive news about events, up to a week ago, but we don't know how the situation is now ".
Bozda said the company had six stores in Egypt and there were difficulties there.
View the original article here
0 komentar:
Posting Komentar