Rettig Creates Turkish Subsidiary and acquires a Towel warmer Plant in Izmir

November 2008

The Rettig Group is pleased to announce the establishment of Rettig Metal Ticaret ve Sanayi AS, a company formed for the express purpose of acquiring 75% of the principal assets of Seri Is Makina and Seri Is Metal, both of which companies are located in Izmir, Turkey.

The Seri Is companies have been involved in the manufacture of specialist metal tubes for a number of years and more recently have become a major manufacturer of chrome-plated steel towel warmers and, as such, a major supplier to Rettig ICC in the UK, French, Belgian and other European markets.

The remaining 25% ownership of Rettig  Metal AS is held by Mr Gökhan Binoglu, who, along with his Father, developed the Seri Is business to its present annual turnover of €6.0 million employing 190 people.

Gökhan is a Director and will hold the position of Plant Manager, reporting to Mr Jos Bongers, Chief Operating Officer of Rettig ICC.

The business will therefore become an important element in our efforts to establish a greater presence in the fast-growing European towel warmer market.

Rettig ICC bv. Australiëlaan 6. NL-6199 AA Maastricht-Airport