Koc Holding makes USD 86bn investment in five years

KOC HOLDING held the 59th Ordinary General Assembly with the participation of Honorary Chair Rahmi M. Koc, Chairman Omer M. Koc, Vice Chairman Ali Y. Koc, Board Member Semahat Arsel, CEO Levent Cakiroglu, the top management, and shareholders. Touching on the twin quakes on February 6, Rahmi Koc said the search and rescue teams of 531 well-trained and equipped Koc Group employees, who immediately volunteered to go to the region, rescued 117 individuals under the rubble. “Koc Holding has made around TRY 86bn investment over the past five years, including a TRY 40.5bn investment made alone in 2022. We’ll allocate considerable funds for the recovery of the quake-hit region along with the projects to be implemented in the coming period,” he added. Chairman Omer M. Koc stated that Koc Holding completed 2022 with strong financial results thanks to its prudent management approach. “We continued to grow at home and abroad in 2022. Arcelik acquired the production and distribution rights for Whirlpool in Russia and laid the foundations of its new factories in Bangladesh and Egypt. We moved our production operations abroad in one of our joint ventures for the first time, with Ford Otosan’s acquisition of the Ford factory in Romania. Our most substantial investment in Turkey was to complete the acquisition of an additional 18% stake in Yapi Kredi from UniCredit last year,” he added. CEO Levent Cakiroglu said they’ll create temporary shelter areas to consist of around 5,000 containers where 20,000 people will live in the areas identified by the government. He also reiterated that Koc Holding is the only representative of Turkey in the Fortune Global 500.