Jan. 11 (Bloomberg) -- A venture between Germany’s Fuchs Petrolub AB and the fuel retail unit of Turkey’s Koc Holding AS will invest $25 million in a lubricants plant in western Turkey as it targets increased sales.
The first phase of the plant, to be built in the Aliaga industrial region, will have a capacity of 50,000 metric tons a year when output starts at the end of 2013, Murat Seyhan, chief executive of Opet Fuchs AS, said at a news conference in Istanbul. Capacity will rise to 75,000 tons, he said.
Opet Fuchs targets 2012 sales of 90 million euros ($114 million) from 80 million euros in 2011, the companies said in a statement. Opet Fuchs will have a market share of 12 percent, or 41,000 tons, in 2012, Seyhan said.
Turkey’s lubricants market is expected at 350,000 tons this year, and the plant will boost the country’s capacity by 5 percent, according to the statement released at the conference.
Opet Petrolculuk AS, the fuel retailing unit owned equally by Koc Holding and the Ozturk family, had sales of 14.8 billion liras ($8 billion) in 2011, with an 18.7 percent share in the Turkish fuel market by volume, according to the release.
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