Sabanci sells textile division
06/08/2008
The Sabanci Group has announced the sale of one of its textile divisions.
The group said on August 6 that it had sold its majority stake in Bossa—a manufacturer of sportswear, denim, shirts and other garments—to Akkardan, a Turkish manufacturer specialising in equipment for commercial vehicles, for around $75 million.
Established in 1951, Bossa is one of Turkey’s largest vertically integrated textile manufacturers and has four production plants across the country. It employs a workforce of more than 2,800, and has a total annual production capacity of 84.5 million metres. It recorded sales of $252.8 million in 2007.
The Sabanci Group’s other divisions include specialist performance yarn manufacturer Advansa.
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