Germany-based Wuppermann Group, which has been operating in steel processing for over 140 years, has announced that it has acquired a 35 percent stake in Galva Metal A.S., a Turkey-based international steel distributor and steel service center located in Kocaeli, near Istanbul.
Wuppermann stated that by investing in Galva Metal the company is gaining direct access to the growing Turkish market. The purchase of shares is a further consistent step to continue Wuppermann's growth course outside Western Europe.
Cooperation between the two companies started in 2012. Since its foundation in 2005, Galva Metal has been steadily growing, reaching a turnover of €32 million in 2012. Besides its sales activities, Galva Metal founded a steel service centre in Turkey in 2011 and invested in machinery and buildings. The trading company is specialized in coated flat steel products such as galvanized, galvalume or prepainted steel.
Germany’s Wuppermann acquires 35% stake in Turkey-based Galva Metal
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