The Republic of Türkiye’s Competition Authority (Rekabet Kurumu) has launched an investigation into companies active in the field of tyre production and distribution within the automotive sector. One affected company is Brisa, the joint venture between Bridgestone and Sabanci Holdings.
With the opening of its California technical centre, Kordsa reports that it has established three technical centres on three continents within a year.
Kordsa has obtained approval from the Science Based Targets Initiative (SBTi) for its emission reduction commitments. By complying with the SBTi’s criteria and recommendations, Kordsa aims to reduce its emissions by 46.2 per cent by the year 2030, using 2019 as the base year.
Bridgestone is donating 1 million euros to efforts to offer relief to those struck by the recent earthquake in Turkey and Syria. Writing in a statement released on 14 February, company officials said:
Brisa, the joint venture between Bridgestone Corporation and Sabancı Holding that holds a leadership position in Turkey’s tyre market, has acquired 88.89 per cent capital shares of Turkish fleet telematics company Arvento Mobile Systems (Arvento) for a consideration of TRY 291 million (£15 million). The transfer price will be subject to some adjustments, taking into account the net debt and working capital levels of Arvento at the closing date.
The Goodyear Tire & Rubber Company has appointed ex-Brisa and Bridgestone executive Hakan Bayman as president of Goodyear’s consumer tyre business in Europe, effective 1 July 2020. Bayman will be based in Brussels and report directly to Chris Delaney, president Goodyear EMEA.
Cenk Alper has become chief executive officer of Sabanci Holding, the Turkish conglomerate behind tyre cord producer Kordsa and co-owner of tyre manufacturer Brisa. He succeeds Mehmet Göçmen, who held this position between 30 March 2017 and 31 July 2019.
Cevdet Alemdar has been appointed chief executive officer of Brisa Bridgestone Sabanci. He started in this role on 15 May, succeeding Yigit Gurcay, who had held this position since August 2015.
Kordsa has announced the appointment of Ali Caliskan as the company’s new CEO. Also announced by Kordsa is the move of Cenk Alper from CEO to group president of the affiliated Sabanci Holdings Industry Group. Alper has been in the CEO position since 2013.
Turkish joint venture tyre maker Brisa Bridgestone Sabancı Lastik Sanayi ve Ticaret A.S. – or Brisa, as it is more commonly known – intends to primarily utilise a US$150 million long-term loan from the European Bank for Reconstruction and Development (EBRD) and $160 million from a syndicated loan transaction arranged and coordinated by Mitsubishi UFJ Financial Group (MUFG) for the greenfield factory it is now building in Anatolia. A portion of the financing will also be directed towards the expansion of Brisa’s truck and bus tyre plant in Izmit.
Kordsa Global has opened its second site in Indonesia. The company invested US$100 million in the project and the plant, located in Bogor-Citeureup (Java) includes an 18 kiloton tyre cord fabric facility and a 14 kiloton third and fourth-generation polyester HMLS yarn facility. Over 200 people will be employed at the two operations. The site’s official opening was attended by Sabanci Holding chairperson Guler Sabanci, Mehmet Pekarun, SBU industry president of Sabanci Holding and chairman of Kordsa, Cenk Alper, Kordsa Global CEO, officials from Indonesia’s government and local administrators.
Brisa, the company producing Lassa brand tyres in a joint venture between Bridgestone and the Sabanci Group, has announced it will invest US$117.5 million expanding its tyre manufacturing units in Izmit, Turkey. The investment figure exceeds the $110 million of investment that was reported at the start of April.
With unit sales of 7.06 million expected for 2006, a domestic replacement market share of 26 per cent and thriving export sales, no wonder Lassa producer Brisa is expanding its manufacturing and warehousing headquarters. As Brisa (Bridgestone Sabanci Tyre Manufacturing and Trading Inc) continues the $176 million production expansion programme it started at its Izmit plant in Turkey in 2004, Tyres & Accessories went to see how the plans are developing and visit some of the company’s retail outlets in Istanbul.
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