The MoU signed by Trakya Cam, which involves a 100% stake in Fritz Holding GmBH, will enable the Turkish company to enter the German auto glass market. According to the company’s website, Fritz Holding GmBH has EUR 140 million in annual revenue.
Trakya Cam has announced that it has signed a MoU regarding a 100% stake in Fritz Holding GmBH to enter the German auto glass market. Fritz Holding GmBH operates with four plants (two in Germany, one in Hungary and one in Slovakia) in the glass coating industry and provides its products to important auto producers such as Audi, VW, Mercedes, BMW, Opel and Citroen. According to the company’s website, Fritz Holding GmBH has EUR 140 million in annual revenue.
Trakya Cam has operations in Turkey, Bulgaria, Russia and Egypt and plans to enter the Indian market. This move to enter the German auto market can therefore be considered as positive for the company’s long-term prospects. On the other hand, the company’s most consistent investments will take place in 2013, and include spending USD 400 million on CAPEX. This possible acquisition may also put extra pressure on free cash flow.