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Yokogawa Electric Corporation announced that its subsidiary, Yokogawa Europe B.V. has acquired 100 percent of the shares of its distributor in Turkey, Birleşik Endüstriyel Sistemler Ve Tesisler A.Ş (BEST), which is based in Izmir. The acquisition of shares was carried out on November 25.
With this acquisition, Yokogawa strengthens its focus on Turkey as a market with substantial growth potential. It will allow Yokogawa to extend its position in promising segments, such as the power industry. Through the acquisition, Yokogawa will also enhance its relationships with customers in Turkey.
BEST has been Yokogawa's distributor since 1977 and has already built a reputation in the oil and gas industries, where it will continue to provide great value to customers. This acquisition is a major step forward in Yokogawa's plans to grow its footprint in emerging markets, and specifically in target industries including the power and energy sectors.
Keywords: Turkey, Power Industry, Emerging Markets, Power Industry, ARC Advisory Group.