Orhan Holding of Turkey Buys 51% of Fuzhou Rocket of China
Orhan Holding AS, a Turkish automotive spare parts maker, bought a 51 percent stake in Fuzhou Rocket Enterprises Co. Ltd. (CEBLBZ), a Chinese parts maker, for an undisclosed price, the Turkish company said today.
Orhan Holding, based in the western Turkish industrial town of Bursa, made the investment through its wholly-owned unit Nobel Automotive, it said in an emailed statement. Orhan had a sales of 587 million euros in 2011, it said.
To contact the reporter on this story: Ercan Ersoy in Istanbul at firstname.lastname@example.org
To contact the editor responsible for this story: Benedikt Kammel at email@example.com