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| Strategic alliance with Calik Holding to enhance infrastructure business in Turkey and surrounding countries |
TOKYO, June 4, 2015 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce that MC entered into a strategic alliance with Calik Holding (Calik), one of leading conglomerates in Turkey, and Calik Enerji Sanayi ve Ticaret A.S.(CE), a subsidiary of Calik that includes the acquisition of shares in CE and exchange of personnel.
 | | Mitsubishi Corporation Enters Capital Alliance with Turkey’s Calik Enerji |
The partnership between Calik and MC dates back to the 1990's, when the two companies started collaborating on a number of plant construction projects in Central Asia. Last year, MC teamed up with another Calik subsidiary, Gap Insaat, which specializes in construction, to secure the order for constructing a 1.3 billion US dollar fertilizer plant in Turkmenistan. Working together to execute these projects throughout the region has enabled MC to build strong ties with Calik.
CE was spun out from Calik in 1998 to facilitate its expansion in Turkey and in neighboring economies experiencing rapid growth on the back of population increases and abundant mineral resources. CE's growth has largely been the result of a business strategy focused on providing Engineering, Procurement and Construction(EPC) services to energy plants in these countries as well as its involvement in electricity and gas distribution businesses as well as in power generation.
Under New Strategic Direction, the company's current corporate strategy released in 2013, MC is working to enhance its regional development activities in an effort to more effectively capture growth in the global economy. By leveraging this strategic partnership with Calik and with CE, MC is seeking to expand its businesses in infrastructure sector including energy, power and other sectors in fast growing economies such as Turkey and its surrounding countries in Central Asia, the Middle East and North Africa.
1. Outline of Mitsubishi Corporation (MC)
(1) Head office: 3-1, Marunouchi 2-Chome, Chiyoda-ku, Tokyo, 100-8086, Japan
(2) Main Business Activities: MC is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.
(3) Representative: Ken Kobayashi, President and Chief Executive Officer
(4) Date Established: April 1954
(5) Number of Employees: 68,383 (consolidated, as of March 31, 2014)
2. Outline of Calik Enerji (CE)
(1) Headquarters: Turkey, Ankara
(2) Main business activities: Engages in plant EPC related projects mainly in countries of the CIS, the Middle East and Africa as well as in energy-related infrastructure and utility businesses in Turkey, Kosovo and other countries.
(3) Representative: Ahmet Calik, Chairman & CEO
(4) Year Founded: 1998
(5) Number of Employees: Approx. 2,000
(6) Turnover and Net Income in FY2014 (consolidated): 1,618 million USD / 229 million USD
3. Outline of Caliq Holding
(1) Headquarters: Istanbul, Turkey
(2) Main business activities: in countries
(3) Representative: Ahmet Calik, Chairman & CEO
(4) Year Founded: 1981
(5) Number of Employees: Approx. 24,000
(6) Turnover and Net Income in FY2014 (consolidated): 2,747 million USD / 361 million USD
Contact:
Mitsubishi Corporation
Telephone:+81 3 3210 2171
Facsimile:+81 3 5252 7705
Topic: Press release summary
Source: Mitsubishi Corporation
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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