By Kerim Ulker
Japanese food company Nippon Ham Foods will soon become the sole owner of Ege-Tav after acquiring a 60% stake in the white meat company six years ago. met with Ege-Tav and hashed out plans to negotiationsare Nippon Ham.
In recent year, Japan-based companies have become some of the most important investors in Turkey. The Japanese giants such as Denso, Marubeni, Nikkei, Toyo, Takeda Pharma, Hoshizaki, Mitsui, Kansai, Hitachi, GS Yuasa and Mitsubishi, whose turnovers are measured in billions of dollars, have formed crucial partnerships and acquired companies, operating in a variety of industries from pharmaceuticals to packaging.
However, the food industry has become the shining star among these sectors. Nippon Ham was one of the first Japanese food companies to penetrate the Turkish food sector, which later attracted firms such as Ajinomoto, Nissin and Kagome. Japanese interest in gradually increased after Nippon Ham became a 60% partner of Ege-Tav in 2015.
EMPLOYEES TRIPLED IN 6 YEARS
Established in 1977, Ege-Tav employed around 350 people in 2015. Since then, the number of employees has exceed 1,000. Nippon Ham, operating in the red and white meat subsector, was founded in 1949 currently employs nearly 30,000 people. The company also owns Japan’s most famous baseball team, Hokkaido Nippon-Ham Fighters and the soccer club Cerezo Osaka.
USD 13BN TURNOVER
Nippon Ham Foods had an annual turnover of USD 13bn last year. The company has 155 farms, including two fish farms. In addition, the company also has 319 logistics and sales locations alongside of its three R&D facilities. Stocks of Nippon Ham Foods are traded on Tokyo Stock Exchange. Financial institutions among its shareholders include the Master Trust Bank of Japan, Japan Trustee Service Bank, The Hyakujushi Bank, Meiji Yasuda Life Insurance Company, The Norinchukin Bank, Nippon Life Insurance Company, MUFG Bank, Sumitomo Mitsui Banking Corporation and JP Morgan.
German Farhym leaves Turkey
Farhym Otomotiv Sanayi, the 100% subsidiary of the German Hymer-Leichtmetallbau GmbH & Co. KG, has decided to leave Turkey. Accordingly, the company will transfer all its shares to the Turkish company Makel Yalitim. Farhym will be included in Makel Yalitim’s structure as soon as the application of the parties gets approval from the Competition Authority and the final agreement is reached.
Farhym has operated nearly for 20 years in Turkey. Penetrated the Turkish automotive industry in 2003, the company produced integrated solutions for interiors of commercial vehicles. Farhym manufactured air ducts, luggage storage systems, interior lighting, interior trims and other interior components particularly for the coach and public transportation buses.
Farhym’s main facility is located in Ankara next to the MAN bus production center on an area of 10,000 square meters, while the second facility is located in Adana on an area of 500 square meters. The company supplied products for the global brands such as MAN, Temsa, Isuzu, Karsan, BMC and Hyundai. The company employed 3,000 people and had a turnover of nearly EUR 1bn, according to the recent statement. Meanwhile, preparing to acquire Farhym’s stakes, the Ankara-based Makel Yalitim was established in 1997. The company manufactures parts for automotive, home appliances, heavy equipment, construction and packaging sectors.