GEA acquires ISISAN, the Turkish air-treatment specialist
16. March 2006 New foreign subsidiary is optimistic about capturing additional sales markets
Since March of this year, the GEA Group has been the controlling shareholder in ISISAN, the Turkish air-treatment specialist in Istanbul. Since 1999 ISISAN has been a strategic business partner of the GEA Air Treatment Division, into which it will be integrated. With approx. 30 staff, the marketing company ISISAN – whose full name is ISISAN Tesisat Insaat Taahüt Ticaret Ve Sanayi Anonim Sirketi – achieved sales of almost 10 million euros in Turkey in 2005.
Mr. Gökhan Özbek, Managing Director of ISISAN and still a stockholder in the company, is responsible for company business, and reports to Dr. Frank Vossloh – who in turn is in charge of Western European Sales in the GEA Air Treatment Division.
Dr. Hugo Blaum, Division President of GEA Air Treatment Division, summarizes the benefits as follows: “With this acquisition, first, we are expanding our strong position in Europe, which is our core market in air-treatment technology. Second, we have now gained access to new and vigorously growing markets in the Caucasian and Central-Asian republics.”
In Turkey alone, a total of approx. 100 million euros is invested annually for HVAC technology – which represents an outstanding basis for the GEA subsidiary in Istanbul. ISISAN will additionally represent a prime opportunity to develop business in culturally related countries, particularly in Caucasia and in Central Asia. Finally, new production facilities in Turkey will ensure that GEA will be able to rapidly respond to the local requirements of its customers in the area, and to minimize future transport costs.
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