ATATURK
2 april 2006, 17:14
http://www.zaman.com/?bl=economy&alt=&hn=30446
Koc to Reach 2016 Aims in 2006
By Abdulhamit Yildiz, Istanbul
Published: Friday, March 03, 2006
zaman.com
Koc Holding has a growth rate higher than expected due to its strategic
planning carried out within the atmosphere of political and economic
stability.
Koc had a consolidated turnover target of $18.7 billion and it reached
this target with $18.8 billion in 2005. Koc, aiming to be one of the
biggest 200 companies in the world by 2016, will reach this goal 10
years in advance with a $36 billion turnover. Koc is now the 389th on
the world's list..
CEO of Koc Holding, Bulend Ozaydinli said at a press conference related
to the 2005 results and 2006 targets, "our target is $36 billion
dollars, a 91 percent increase. If we reach our aim, we will be one of
the biggest 200 companies in the world." Ozaydinli underlined that
positive swerves in their predictions are entirely the results of the
rapid healing of the Turkish economy. 2005 was a positive year for Koc,
said Ozyadinli. "The indications for the continuation of political and
economic stability growth obviously increased last year."
Koc CEO highlighted the necessity of rapid completion of structural
plantings, such as social security and taxes; and the survival of
economic discipline by keeping the relations with IMF strong. He said:
"The implementation of the electoral economy will greatly damage the
stability. We consider 2007 will be advantageous as the elections will
be held then."
His generation is not familiar with a phenomenon like the Turkish
Lira's gaining value, according to Ozaydinli. "We have difficulty in
understanding the Lira's value because we are not familiar with such a
situation," he thinks and, "Turkish lira will continue being
valuable if the present policies are maintained."
Koc does not anticipate problems as a result of the economic burden
placed by the TUPRAS and Yapi-Kredi bank they bought last year. And the
holding is planning to complete the consolidation of Kocbank-Yapi Kredi
in the first half of the year.
Koc's new target: the American market
Ozaydinli said the group will continue to invest abroad in durable
goods, energy and retail, aiming for America as their new target.
Asserting the United States is an important market for durable white
goods Ozaydinli said: "The US is our next target. We are better at
competing in the white goods and TV sector. Our investments in Russia
will start in 2006 and will make investments in China, too. We are
moving closer to the US from the East. The US is an especially great
market in terms of white goods. Although no concrete steps have been
taken, the US is our new target in export."
Koc to Reach 2016 Aims in 2006
By Abdulhamit Yildiz, Istanbul
Published: Friday, March 03, 2006
zaman.com
Koc Holding has a growth rate higher than expected due to its strategic
planning carried out within the atmosphere of political and economic
stability.
Koc had a consolidated turnover target of $18.7 billion and it reached
this target with $18.8 billion in 2005. Koc, aiming to be one of the
biggest 200 companies in the world by 2016, will reach this goal 10
years in advance with a $36 billion turnover. Koc is now the 389th on
the world's list..
CEO of Koc Holding, Bulend Ozaydinli said at a press conference related
to the 2005 results and 2006 targets, "our target is $36 billion
dollars, a 91 percent increase. If we reach our aim, we will be one of
the biggest 200 companies in the world." Ozaydinli underlined that
positive swerves in their predictions are entirely the results of the
rapid healing of the Turkish economy. 2005 was a positive year for Koc,
said Ozyadinli. "The indications for the continuation of political and
economic stability growth obviously increased last year."
Koc CEO highlighted the necessity of rapid completion of structural
plantings, such as social security and taxes; and the survival of
economic discipline by keeping the relations with IMF strong. He said:
"The implementation of the electoral economy will greatly damage the
stability. We consider 2007 will be advantageous as the elections will
be held then."
His generation is not familiar with a phenomenon like the Turkish
Lira's gaining value, according to Ozaydinli. "We have difficulty in
understanding the Lira's value because we are not familiar with such a
situation," he thinks and, "Turkish lira will continue being
valuable if the present policies are maintained."
Koc does not anticipate problems as a result of the economic burden
placed by the TUPRAS and Yapi-Kredi bank they bought last year. And the
holding is planning to complete the consolidation of Kocbank-Yapi Kredi
in the first half of the year.
Koc's new target: the American market
Ozaydinli said the group will continue to invest abroad in durable
goods, energy and retail, aiming for America as their new target.
Asserting the United States is an important market for durable white
goods Ozaydinli said: "The US is our next target. We are better at
competing in the white goods and TV sector. Our investments in Russia
will start in 2006 and will make investments in China, too. We are
moving closer to the US from the East. The US is an especially great
market in terms of white goods. Although no concrete steps have been
taken, the US is our new target in export."