31 Mart 2011 Perşembe

Anatolia’s İttifak moves to Istanbul

Friday, July 16, 2010 


İttifak Holding, an Anatolian company operating in food, machinery and shopping mall construction, has decided to move its headquarters from Konya province to Istanbul and aims for 1 billion Turkish Liras in revenue by the end of 2011.
“Everything started about 20 years ago when 20 local entrepreneurs came together and founded the “İttifak” (alliance),” said Mehmet Buğa, the chairman of İttifak Holding at a press conference Thursday. “Now the holding has reached around 790 million Turkish Liras revenue with 20,000 shareholders and more than 5,000 employees.
“İttifak Holding is a good example of individual achievements evolving into institutional success by developing an extensive and well-established institutional culture in collaboration with tens of thousands of partners and thousands of suppliers and employees in various sectors,” said Buğa.
İttifak’s Adese, a chain of shopping centers, operates 128 stores in seven cities around Turkey. Ramazan Keser, chairman of the executive board, said new stores would be added to Adese, giving priority to investment in big cities such as Ankara and Istanbul to meet high market demand in the sector. “Adese had over 30 million customers during 2009 with total sales revenue around 528 million liras and it will go on growing.”
Speaking of the ever-growing Selva Food Company, Keser said: “It is the biggest Turkish brand of pasta, exporting to over 60 countries. The company ranks among the top 500 companies in Turkey and achieved around 92 million liras in total sales revenue during last year.”
İmaş, İttifak’s machinery investment group, produces integrated machinery systems under Millereal and Cuteral brands. Talking on the potential of the company, Keser said it builds up technical cutting machinery systems for various factories and already has more than a 15 percent share in the sector with total sales revenue of around 25 million liras during 2009. “More than 70 percent of the machines are exported to over 40 countries in Europe, United States and Middle East,” said Keser.
Figures from last year show a sharp decrease in the total exports of the holding due to the global financial crisis that hit Turkey. The holding had achieved $41.5 million in exports during 2008, but last year total exports went down sharply by $30.3 million, meaning a loss of $11.2 million.
“This downfall was mainly caused by the well-known effects of the economic crisis on all sectors, but we will keep increasing our exports and are aiming for around $50 million total export by the end of this year,” Keser told the Hürriyet Daily News and Economic Review.
Holding expands in Saudi Arabia
Seha Yapı, the holding’s construction company, operates in major residential projects both in the capital city Ankara and central province of Konya. The company is now preparing to operate in Saudi Arabia with a newly founded company, Keser said.
“We were having difficulties obtaining contracts for construction there due to the geographical distance, but with the new country we would like to be more active in Saudi Arabia and in the region,” he said.
Established in 1988 and then becoming a holding in 1993, İttifak Holding is also registered with the capital markets board of Turkey in order to be a publicly held company.

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