Rondo Ganahl AG sells the corrugated cardboard plant in Istanbul (Turkey). The new owner of the production facility is a local packaging manufacturer.
The corrugated board plant of MKB Oluklu Mukavva Kutu ve Ambalaj in Istanbul was taken over by Rondo Ganahl AG in February 2013 and has so far made a positive contribution to the success of the group of companies. However, the space capacities of the plant site are almost fully utilised, and a reorientation of the plant in line with the corporate strategy would only be possible with considerable investment at another location, it is said.
The Austrian packaging specialist has decided to sell the plant due to the tense economic situation in Turkey and the excessive inflation in the country, as well as the massive demands from the trade union and withdraw from the Turkish market.
„The decision to sell a production facility is never an easy one. However, in view of the general conditions surrounding our site in Istanbul, it was the best solution. It was very important to us to find a good solution for the workforce. Thanks to intensive negotiations, we succeeded in finding a local packaging manufacturer as the new owner for the plant.“
Hubert Marte, Chairman of the Management Board of Rondo Ganahl AG
With a view to the future, Rondo Ganahl AG will focus its economic activities on the existing locations of the group of companies in order to optimise the use of resources, strengthen competitiveness and ensure sustainable further development, according to the statement.
Source: Rondo Ganahl AG
