Indian gold rush

Dünya Executive - - COVER PAGE - KERIM ULKER

With western nations looking dicey, Turkish firms turn to India

for new investment­s

Recently, the most noteworthy investment­s from Italy to Turkey have been taking place in the home appliances sector. Most recently, Sabaf, the world’s leading manufactur­er of household appliances, bought 100 percent of Okida. The Italian giant paid $27 million, or about TRY 135 million, for the Turkish company, following through on its decision to grow rapidly in Turkey.

Founded in 1950, Sabaf’s primary activity is the production of domestic gas cooker components. Headquarte­red in Brescia, in the Lombardy Region, the Italian giant has been operating in Turkey since the foundation of Sabaf Beyaz Esya Parcalari in Manisa in 2011, a TRY 30 million investment that increased its market share in Turkey to nearly 50 percent.

Okida, employing more than 80 people - mostly engineers - at its 4,000 square meter facility in Istanbul, designs and manufactur­es electronic modules for the white goods sector and exports to more than 20 countries in Europe and America. It was founded in 1987 specializi­ng in oven clocks, ovens, hoods and oven control modules. “The Okida operation represents the first and the foremost step towards implementi­ng the plans we set earlier this year,” Pietro Lotti, Sabaf’s CEO, said in a company statement. “Okida and Sabaf’s quality and innovation partnershi­ps will provide us with strong sales synergies and a significan­t improvemen­t in service for our customers.”

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