Tyrolit acquires Turkish abrasives supplier
The Tyrolit Group has acquired controlling interest in Egeli Egesan Group, an Instabul, Turkey-based supplier of cut-off and rough grinding wheels, grinding tools and sanding belts.
In acquiring Egeli Egesan Group, the Tyrolit Group continues to implement its business expansion strategy and has further strengthened its position on the international abrasives market.
“The successful direction of our business activities and our solid economic base were crucial factors for this important acquisition, both from a strategic as well as operational point of view," said Thomas Friess, CEO. "It strengthens our competitiveness and provides access to the growing markets in the Middle East. Being a global leader in abrasives technology we will offer our customers in the Middle East an entire range of products from a single source and our expertise to optimise manufacturing processes and reduce production costs.”
Tyrolit acquired more than 75 percent of the Egeli Egesan Group and looks forward to working with the existing management board.
Based in Istanbul and with approximately 200 employees, the company is well established in the European and Turkish market. Ilhan Egeli founded the company about 50 years ago.
“We are glad that we could acquire the majority of a strategically important abrasives manufacturer. The location has an excellent infrastructure and gives Tyrolit market access to additional geographic regions. I am convinced that combined with Tyrolit’s technology, know-how and innovative strength, we will soon create a win-win situation for our customers in the Middle East. We aim at optimising the customer benefit following our international orientation,” said Friess.
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