Posted by meb at July 18th, 2008

The world’s leading private equity firm, the Carlyle Group, announced that it has bought 50 percent of shares in the TVK Shipbuilding Industry Trade Inc., which specializes in building chemical tankers.

This investment, concluded on Wednesday and approved by the Competition Board, is the first investment made by the Carlyle Group in Turkey.

Carlyle Group Turkey General Manager Can Deldağ indicated that their participation in the TVK is very important for the Carlyle Group and that they will work in close cooperation with the company management to ensure that the TVK is well positioned in the fast growing global shipbuilding sector. Deldağ pointed out that with its new facilities, strong management staff, know-how, quality and efficiency, the TVK has considerable competitive advantages in many segments of the sector.

Can Topsakal, the founder and chairman of the executive board of the TVK, said the Carlyle Group’s partnership will boost their production capacity, ensuring high quality and rapid production capabilities. When a second slipway, under construction, is completed, their production capacity will be doubled and they will start to build tankers with stainless steel tanks, which will be a first in Turkey, he added.

Walid Musallam, the general manager of Carlyle’s Middle East and North Africa (MENA) region, commented on the group’s global investments and said they gave priority to established and growing companies in their investments. Stressing that the TVK investment is an indicator of the investment potentialities in Turkey, Musallam put forth that the Carlyle Group’s financial support, experience and global communication network give companies important opportunities for growth and new investments. Musallam further noted that their investments in the region will continue. TVK was established by Can Topsakal, Naim Koçer and Turgut Atagün in the Kocaeli Free Trade Zone in 2005. In its shipyard, the TVK can build special chemical tankers with a cargo capacity of 30,000 dwt.

The Carlyle Group is an international private equity firm managing total funds of $82.7 billion. The group invests in diverse sectors, including automotive, transportation, energy, industry, health, retail, technology, telecommunication and the media in Africa, Asia, Australia, Europe and North America. The Carlyle Group has made 802 acquisitions, with a total value of $216 billion, by making investments totaling $46.3 billion since 1987. The group employs 950 people in 21 countries.
source: Today’s Zaman