German's leading company Opta has reportedly submitted an application to the Competition Board with the intention of becoming the main stockholder of the Turkish steel company Metser Demir Çelik.
Both companies have applied to the Competition Board, and if approval is granted, the shareholding structure will change. The German company will make the acquisition through its Speyside fund. Opta, one of Europe's most established companies in steel and foundry materials, has facilities and investments in many countries from the US to Canada, France to Slovakia. The German giant is known as a subsidiary of the investment fund Speyside.
Opta, founded 144 years ago, is in the portfolio of Speyside, which acquired Avon Machining last year. Other companies in this fund's portfolio are AccessSMT, Plasma-Tec, Hazleton Casting Company, Weatherly Casting, Western Industries Plastic Products, Block & Company, Craftsman Custom Metals. Metser, which Opta will acquire, was founded in 2007. Metser produces special composition and alloy wires. The Turkish company, which produces in Izmir, exports to countries from Egypt to Greece, Romania to Austria.
Within the foreign investments in Türkiye, the share of Germans is 6.4% and the number of German companies operating in Türkiye is more than 8,000. In 2023, a considerable amount of German investment was made in Türkiye. Among these investments, DHL Group's acquisition of MNG Kargo, one of Türkiye's leading cargo companies, stands out.
The investments of German companies Nagarro SE, Sartorius, BASF and ZF Group in Türkiye are reflective of this growing interest. Nagarro SE's investment in IT service provider M.B.İ.S, Sartorius' acquisition of Turkish company Sartonet, and BASF's decision to double its production in Kocaeli Dilovası underline the strong presence of German companies in various sectors in Türkiye. ZF Group's factory for commercial vehicle brake bellows in Sakarya is another example of the growing German investment in manufacturing in Türkiye.
Comments
No comment yet.