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- 2006 |
Stock transfer operation completed...22 December 2006
- KORDSA GLOBAL HAS BOUGHT THE MAJORITY SHARES OF PT BRANTA MULIA Tbk., A COMPANY LOCATED IN INDONESIA.
- PEKARUN, CEO OF KORDSA GLOBAL: “OUR AIM IS TO OBTAIN A REVENUE AMOUNT TO $1.2 BILLION WITHIN NEXT 3 YEARS.”
Kordsa Global A.Ş., a world leader in its business, has bought 51% majority shares of PT Branta Mulia Tbk, a company located in Indonesia. Kordsa Global A.Ş. paid $50,7 million to PT Branta Mulia Tbk’s majority stockholders for this purchase.
“We will make bidding to Jakarta Stock Market (Bursa Efek Jakarta) for the minority shares of PT Branta Mulia Tbk the majority stocks of whom we have bought. As a result of the bidding, if there are stockholders who want to sell their stocks, we will buy these stocks, too,” said Mehmet Pekarun, the CEO of Kordsa Global, stating that the stock transfer proceedings has completed today.
Pekarun also said:
“In November, we realized our first investment in Far East by buying the %99.5 shares of IQNE Qingdao Nylon Enterprise, an affiliate of U.S. Invista Group in China. After that, in line with our strategic plans, we signed a letter of intent with PT Branta Mulia Tbk on December 2, 2006 for the purpose of adding one more to our investments in Asia. And today the proceedings regarding the stock transfer have been completed.”
Pekarun recorded that Kordsa Global A.Ş., a world leader in its sector joint among the leader players of growing Asian market by this acquisition and says, “We entered into Asian market with a wide range of product consists of nylon, polyester yarn and cord fabric etc. We also take more benefit from rapidly growing polyester market by increasing the capacity. By this acquisition, Kordsa Global will be nearing its target revenue amount to $1 billion. We aim to increase our revenue up to $1.2 billion by continuing to grow both in organic and inorganic ways throughout the 3-years period between 2007 and 2009.”
Pekarun states that their major customer group will be realize 50% or more of their investments in Asia and thus their customer will be their company’s side again in new investments.
Reminding that Kordsa Global effects the transactions in IMKB (Istanbul Stock Exchange), Pekarun added that the investors who have been holding the stocks of Kordsa now have the stocks of a global company in literal sense.”
Kordsa Global A.Ş., founded in 1973, carries on its activities in Turkey, Germany, Egypt, Iran, USA, Brazil and Argentina. By the purchases in November and December 2006, China, Indonesia and Thailand joint among these manufacturing centers.
Kordsa Global complete the acquisition of KQNE in China29 December 2006
Kordsa Global completed the acquisition of 99.5 percent shares of IQNE Qingdao Nylon Enterprise Limited operating in China, with annual revenues of 20 million dollars from Invista Group with annual revenues of 20 million dollars by Sabancı Holding enterprise Kordsa Global,
Kordsa Global CEO Mehmet Pekarun comments it; ‘’KQNE is our first step into the Chinese market. This acquisition as well as the acquisition of the majority shares of Branta Mulia TBK, shows our strong commitment to become a key reinforcement partner in this fast growing region. Our clear aim is to follow our tire customers’ new investment plans, wherever they might be. We welcome Branta Mulia TBK and KQNE employees to the Kordsa Global family.’’
Kordsa Global steps into China04 November 2006
An agreement was reached concerning the purchase 99.5 percent shares of IQNE Qingdao Nylon Enterprise Limited operating in China under American-based Invista Group with annual revenues of 20 million dollars by Sabancı Holding enterprise Kordsa Global, it has been reported.
A statement by Sabancı Holding informed that the acquisition process handled by Kordsa Global’s enterprise Kordsa Mauritus will be completed upon the receipt of the necessary permits. Sabancı Holding Tires, Auxiliaries and Automotive Group Chair Turgut Uzer said that the acquisition was the first step for the entry of Kordsa Global to the Far East market as a producer. Stressing in his statement that Kordsa Global was determined to continue and expand its operations in China and the Far East, Uzer said, “Our goal is to begin PET HMLS production in the Far East alongside the nylon produced in Qingdao, China. Kordsa Global is currently pursuing talks for new long-term cooperation deals in this framework.”
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