ERENSAN SETS SAIL TO THE OCEANS WITH ATLANTIC GROUP
ERENSAN SETS SAIL TO THE OCEANS WITH ATLANTIC GROUP
Atlantic Group, a global giant in the HVAC industry with its turnover of over 840 Millions and properties of prestigious brands of worldwide recognition, goes into partnership with Erensan, a leading domestic & industrial heating sector company - by purchasing 25% interest in Erensan Isi Cihazlari Pazarlama & Servis A.S
The partnership agreement signed by Atlantic Group & Erensan also guidelines that several boilers and heating systems already in Atlantics product range will be hereon manufactured by Erensan at the Istanbul as well as Yozgat plants hence increasing the companys employment and output capacities.
Erensan, a leading tradename in the heating devices sector - an important portion of the manufacturing industry in Turkey, and a world renown name in HVAC - Groupe Atlantic of France, have finalized their year long deliberations in a positive way.
At the signature ceremony held at Swissotel / Istanbul, Mr Ali Eren, the President of the Board of Directors of Erensan quoted : As we were growing into becoming a worldwide brandname - while exporting to some 72 countries with 12 Million within our total sales of 25 Million, we have been approached by several global potential partners. Our quest was rather a growth and export markets oriented one towards a strategic partner. After almost 1 year of negotiations, we have come to agreement to become partners with Atlantic Group a prominent industrial figure in France with a turnover of 840 Million in every aspect.
Mr Eren stated that the Atlantic Group purchased 25% of Erensan shares and continued: Under the guidelines of our agreement, several products in Atlantics palette will be manufactured at our Istanbul and Yozgat facilities and boosting our natonal exports.
Management by Erensan
Mr Eren underscored that the French would rather be a supervisory position in their management and Erensan will continue to be an ever growing - 100% domestic manufacturer.
Our capacity will double
Ali Eren also quoted that several Atlantic products would be manufactured as 100% domestically and he continued therefore our manufacturing output will double and our employment will increase by 30%.
It was time to set sail to the oceans
We have put our signature into a strategic partnership, said Ali Eren; In realm of this partnership, Erensan made a big step forward towards becoming a global brand. We already export to 72 countries; It was about time to set sail to the oceans and broaden our horizon
With the synergy of Atlantic partnership, we hope to benefit from their experience and existence in some 150 countries wide global marketplace, we aim to double our exporting abilities.
The remedy to tackle the current deficit
While recommending similar strategic partnerships to other members of the production industry in Turkey, Erensan Chairman Ali Eren also asserted Turkish industrialists are confidently moving towards the goal of 500 billion dollars in exports by the 100th anniversary of Turkeys establishment as a republic, as set forth by our Prme Minister and the current government. The critical point here is the issue of current deficit. The current deficit has been an ongoing problem for the Turkish economy over many decades, much like a bleeding wound. The prescription necessary for healing this wound is apparent. We will not be able to defeat the current deficit without investing in technology and without increasing the domestic value added input in our exports. Thus our partnership with Atlantic Group exemplifies a great model.
We were inspired by their high-quality products
Atlantic Group CEO Pierre Louis Francois, who also spoke at the press conference, stated, With the quality of their products and strong corporate structure, Erensan is, without a doubt, a strong candidate for becoming a global brand. This is what impressed us. Erensan also demonstrates to be on a parallel path with Atlantic Group in terms of corporate culture and vision. We have great chemistry in this area. For these reasons, we believe that we are signing a profitable and intelligent deal.
Mr Francois also underscored that Atlantic has already been a successful FDI (Foreign Direct Investor) in Turkey (Torbali/Izmir) as a manufacturer of Towel Panel Radiators in which they manufacture and export some 400.000 units / year.
Pierre Louis Francois continued his statement by adding, We are not only signing a profitable deal but gaining a strategic partner for the products we have developed for global markets and the high-quality production bases. He further discussed that the Erensan brand had a reaching hand for the Balkans, Middle East, Turkic States and Northern Africa and that the parties had agreed upon the co-marketing of their products in these regions through the Erensan structuring.
Whilst stating that in addition to the ones in France, Atlantic Group had production facilities in England, Egypt and the Ukraine, and that they employed 4200 people worldwide, Francois also proclaimed, We acquired a strong companion on our path to success by becoming partners with Erensan, through obtaining 25% of their shares. We will share our 43 years of experience with Erensan in global markets.
The press conference ended with the signing of the partnership agreement.