Adel Gains Most This Year in Istanbul on Plant Move Report
Adel Kalemcilik Ticaret & Sanayi AS (ADEL), a Turkish maker of office supplies part-owned by Faber- Castell AG, gained the most this year after a report it will move to a new plant and may use its existing plant for a real- estate project.
Adel rose 2.8 percent to 32.80 liras at the close in Istanbul, its biggest increase since Dec. 29.
Adel will expand output capacity by as much as 25 percent with a plant it will build for about $25 million and will evaluate real estate potential for the existing plant in Istanbul, Dunya newspaper reported, citing chief executive Taner Dursun.
To contact the reporter on this story: Aydan Eksin in Istanbul at firstname.lastname@example.org
To contact the editor responsible for this story: Benjamin Harvey at email@example.com