27 March 2015
Sarten to join forces with Japanese Mitsui
Turkey's biggest packaging firm Sarten has agreed into an agreement to bring in Mitsui, one of the world's biggest companies, as a partner with 15 percent of shares.
Sarten Sanayi ve Ticaret A.S. has signed an agreement to join forces with Mitsui & Co., LTD. ("Mitsui") at a ceremony which took place last night at Çiragan Palace in Istanbul.
"We aim to become the number one packaging company in our region. After the transfer of 15 percent shares of our company, which was previously owned 100 percent by our family, to Mitsui, we believe that we would obtain a competitive advantage in a wider region. In a world gradually developing and globalizing, we, as Sarten, are making this partnership in order to provide more quality, fast and affordable products. Mitsui will support Sarten's swift growth with its Japanese vision" said Zeki Saribekir, CEO of Sarten.
Sarten, which is comes third in rank of steel can production in Europe, has 13 plants in Turkey, 1 in Russia and 1 in Bulgaria.
On behalf of Sarten Board, CEO Mr. Zeki Saribekir expressed his gratitude at the signature ceremony to Mitsui for their trust in both Sarten and the Turkish economy. Sarten Board and nine representatives from Mitsui were present at the ceremony.
Sarten management structure remains unchanged after the agreement. Founded 43 years ago by Yusuf Saribekir and his family, Sarten assumes the management of the company and will continue with the packaging production and sales operations as before.
According to the announcement made by Mitsui Head Office, Mitsui has identified Turkey as a priority country in its new Medium Term Management Plan. It was also stated in the announcement that "Equity participation in Sarten will enhance Mitsui's efforts to benefit from the economic growth of Turkey".
"An upward trend in demand in packaging industry is expected in view of factors including population growth, lifestyle changes and the growing presence of women in the workforce. For these reasons, Sarten can be expected to achieve further growth and development in Turkey and surrounding countries" read the Mitsui announcement.
Following this equity investment in Sarten, Mitsui will create new business opportunities by helping Sarten to diversify its product range to meet the needs of customers in a wide range of industries and also introduce cutting-edge packaging technologies.
