Sabancı group on a roll with new investments
Güncelleme Tarihi:
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Oluşturulma Tarihi: Ocak 29, 2009 00:00
ISTANBUL - Undeterred by the economic crisis, Sabancı Holding is not changing its plans for expansion and will open more stores and create more jobs. Sabancı Holding, the second largest industrial and financial conglomerate in Turkey, announced it would remain faithful to its previous plans for growth.
The company’s growth plans for this year include an investment worth $180 million in the retail industry. Sabancı Holding said it would open new branches for its electronics store Teknosa in five cities.
"We are aiming to obtain a turnover of 5 billion Turkish Liras from our operations in retail this year," said Sabancı Holding Food and Retail Group Chairman Haluk Dinçer. He was speaking at a meeting held to reveal plans related to Teknosa’s 2008 performance and 2009 projections and targets. A purchase related to the food industry is also on the agenda for the company, he said.
"We are ready for the crisis. We are not afraid of it. We will continue to grow," said Dinçer. The company did not revise its 2009 targets due to the global economic crisis, he said. There are some organic growth plans related to Teknosa, which has obtained one third of the group’s annual turnover, he said.
Five new Teknosa stores will be established in Eastern Anatolia, which will provide employment opportunities for 1,000 people in the region, said Mehmet Nane, Teknosa general manager.
"Although the technology market contracted 20 percent last year due to the global economic crisis, Teknosa continued to grow. Although the contraction in the sector is expected to continue this year we target 1.2 billion liras in turnover as well as 20 percent growth for Teknosa," said Nane.
New Teknosa stores will be opened in Kars, Muş, Ağrı, Iğdır and Bitlis, he said. Sabancı Holding has set a target of 5 billion liras in turnover for the retail group, said Dinçer. "The group aims to obtain a turnover of 7 billion in 2010 and provide employment for 7,000 people," he said. "These plans may be revised next June depending on the conditions in Turkey. However, I doubt the figures would be lowered much."
Sabancı’s investment in Carrefoursa, Diasa and Teknosa this year will total $180 million this year, said Dinçer.
"We are aiming to obtain a turnover of 5 billion Turkish Liras from our operations in retail this year," said Sabancı Holding Food and Retail Group Chairman Haluk Dinçer. He was speaking at a meeting held to reveal plans related to Teknosa’s 2008 performance and 2009 projections and targets. A purchase related to the food industry is also on the agenda for the company, he said.
"We are ready for the crisis. We are not afraid of it. We will continue to grow," said Dinçer. The company did not revise its 2009 targets due to the global economic crisis, he said. There are some organic growth plans related to Teknosa, which has obtained one third of the group’s annual turnover, he said.
Five new Teknosa stores will be established in Eastern Anatolia, which will provide employment opportunities for 1,000 people in the region, said Mehmet Nane, Teknosa general manager.
"Although the technology market contracted 20 percent last year due to the global economic crisis, Teknosa continued to grow. Although the contraction in the sector is expected to continue this year we target 1.2 billion liras in turnover as well as 20 percent growth for Teknosa," said Nane.
New Teknosa stores will be opened in Kars, Muş, Ağrı, Iğdır and Bitlis, he said. Sabancı Holding has set a target of 5 billion liras in turnover for the retail group, said Dinçer. "The group aims to obtain a turnover of 7 billion in 2010 and provide employment for 7,000 people," he said. "These plans may be revised next June depending on the conditions in Turkey. However, I doubt the figures would be lowered much."
Sabancı’s investment in Carrefoursa, Diasa and Teknosa this year will total $180 million this year, said Dinçer.