Polisan Holding bought the Polyethylene Terephthalate (PET) factory in Greece. The factory, which cost 10 million Euros, is expected to contribute 100 million Euros to Polisan's turnover. A happy ending took place in the chemical factory in Greece, where Polisan Holding has been in acquisition negotiations for several months. Polisan Holding has completed the purchase of the Polyethylene Terephthalate factory in Greece for 10 million Euros.
This acquisition was Polisan Holding's first investment abroad with its own equity.
The factory, built on a 70-decare land in the Greek port city of Volos, will operate under the name of Polisan Hellas, with a 15-decare indoor area.
Polyethylene Terephthalate (PET), which has a wide usage area such as beverage, food and beverage containers, and synthetic fiber, will be produced in the factory in the form of granules and preform bottles.
100 MILLION EURO CONTRIBUTION IS EXPECTED
While Polisan Holding targets the Greek, Balkan countries and Turkish markets with this investment, the factory is expected to contribute 100 million Euros to the holding's turnover.
Stating that their investment in EU member Greece will add value for them both in terms of prestige and entry to European countries, Polisan Holding CEO Erol Mizrahi said, “This new investment with our Poliport company will be integrated in terms of logistics and storage. In addition to the increase we will gain from the revenues of our port operations, we will contribute more than 100 million Euros to our Holding's turnover with our new investment activity.”
TO PRODUCTION OF 100 THOUSAND TONS
Erol Mizrahi pointed out that the factory in Greece is a "continuous facility" operating with full automation and in very good condition, and stated that periodical maintenance works are currently ongoing at the factory. He added that the factory, which will come into operation at full capacity from the beginning of December, will produce an annual production of 100 thousand tons.
Source : Hurriyet