Hoshizaki set to increase stake in Turkish firm
JAPAN/TURKEY: Hoshizaki is set to take a majority stake in commercial kitchen equipment manufacturer Öztiryakiler.
Hoshizaki started investing in Öztiryakiler in 2019, and currently has a 39% share. It plans to make the company a consolidated subsidiary by acquring 51% in 2023.
Öztiryakiler has recently completed construction of a new 93,000m3 factory in Corlu, Tekirdag, on a site adjacent to the current factory, and began production in May 2022. This is its fourth production site in Turkey.
In addition to its sales channels in Turkey, the company also exports to Europe, the Middle East, Africa, and Asia.
Öztiryakiler manufactures and sells a wide variety of kitchen products including commercial refrigerators.