The company bought its 54.2% 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 is a joint-venture partner 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.