Sabanci Purchases Indonesian Tyre Yarn Company

As part of its plans to expand into east Asia, Turkish corporation Sabanci has agreed to purchase a controlling stake in the Indonesian tyre-yarn firm PT Branta Mulia Tbk.

The company bought its 54.2 per cent share via its industrial yarn and cord subsidiary, Kordsa Global. The monetary value of the deal has not been disclosed but Sabanci has given the annual turnover of PT Branta Mulia Tbk, Asia’s leading nylon yarn and tyre-cord firm, as being $170 million. Following the deal Kordsa Global’s turnover will jump to approximately $1 billion.

Sabanci are joint venture partners with Bridgestone, manufacturing the Lassa brand of tyres in Turkey. The deal will see Sabanci take over three factories, two in Indonesia and one in Thailand. sg