Turkish company partners with global bathroom product giant
Can Mumay ISTANBULTurkish construction equipment company Ece Holding has partnered with Belgium-based bathroom products company Ideal Standard to found a company in Turkey.
Ece Holding and Ideal Standard have established the company under the name of Ideal Standard Yapı with equal shares, expanding the scope of their business collaboration.
Ece Holding had already been manufacturing Ideal Standard products in Turkey, as well as operating as the exclusive distributor of the global company in Turkey.
Ece Holding Chairman Erdem Çenesiz said they target a turnover of 100 million Turkish Liras in the first five years of the newly-founded company’s production.
Ideal Standard International, founded by American Standard companies, is a privately held multinational bathroom, sanitary ware and plumbing fixture company headquartered in Belgium.
Çenesiz asserted the agreement is very important for his company as “Ideal Standard is one of the largest bathroom product corporations in the world.”
“This has become a very significant step in terms of the company’s direct investment into Turkey,” he added.
The chairman said the partnership proposal had come from Ideal Standard, but the initial attempt failed, as the 2009 crisis hurt Ideal Standard.
“But now, we have achieved this,” he said.