Turkish textile giant forges foreign partnerships

Published December 12th, 2000 - 02:00 GMT

The textile giant Sanko Holding will expand its food division by forging alliances with foreign companies, Sanko Chairman Abdulkadir Konukoglu told the Anatolian News Agency. The Gaziantep-based Sanko Holdings is trying to lure foreign partners to expand its newly developed food operation, Konukoglu said.  


Sanko, which recently launched a water bottling business, plans to invest heavily in the food sector. Konukoglu told Anatolian that Sanko plans to spin off its 37 companies through public listings and carry on its investment in the textile and food sectors. The subsidiary Sanko Pazarlama Sirketi Company will be the first of the Sanko companies to be listed. 


“Foreign firms have been proposing alliances and the first thing they want to know is how many of Sanko's companies are listed,” Konukoglu said. “To have a stock listing is essential for a serious alliance."  


Konukoglu denied rumors he is trying to take over EGS Holding, a joint venture of Aegean textile 

and clothing industrialists which he owns the biggest share in. He said he had no intention of taking over EGS Holdings. “I joined EGS to eliminate the lack of communication between the East and West and now I own twenty percent of it," Konukoglu said.  


EGS Holding increased its capital in September from 100 trillion Turkish liras to TL210 trillion. The company plans a fast track restructuring and is about to conclude talks with Harper and Harper of the United States on a $40 million partnership. The Leading Japanese investment bank Nomura is among EGS' partners. — (Albawaba-MEBG)

© 2000 Mena Report (www.menareport.com)

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