Central National-Gottesman Acquires Turkish Paper MerchantBy Central National-gottesman Inc., PRNE
Tuesday, February 15, 2011
PURCHASE, New York, February 16, 2011 - Central National-Gottesman Inc. (CNG) today announced that its European
subsidiary, Central National-Gottesman Europe GmbH, has acquired a 78%
ownership interest in Korda Kagit Pazarlama ve Ticaret A.S. ("Korda"), one of
Turkey's leading paper merchants.
Korda was founded in 1996 and is now one of the largest distributors of
printing papers and packaging grades to the Turkish market. The company is
headquartered in Istanbul, where it maintains a 10,500 sq meter (113,000 sq
ft) warehouse and administrative offices. Korda also operates three
additional regional warehouses, with locations in Ankara, Izmir and Adana.
For more information about Korda, please visit www.korda.com.tr. The
other 22% of Korda will remain with Korab International Holding S.A. ("Korab
"Central National has had a substantial and successful business
relationship with Korda and Korab International for more than a decade," said
Ken Wallach, Chairman and Chief Executive of Central National-Gottesman Inc.
"Korda has excellent management and a fine sales and support team, which has
enabled the company to expand its operations while building a superb
reputation for quality and service. We look forward to working closely with
Korab International and the current management of Korda to support and grow
Korda's position in the Turkish market. This acquisition reflects Central
National's long-term strategy to expand its sales activities in strong and
growing markets around the world."
Founded in 1886 and headquartered in Purchase, New York, Central
National-Gottesman Inc. is a leading international marketer of pulp and
paper. The company has sales offices in 26 U.S. cities and 22 countries
worldwide, including eight in Europe. CNG operates several divisions,
including Central National, a global provider of pulp, paper, and packaging,
and Lindenmeyr, the largest independent paper merchant in the United States.
CNG is committed to environmental sustainability and holds certifications
from FSC, SFI, and PEFC. The company's sales of pulp and paper exceed $3.6
billion annually. To learn more, please visit www.cng-inc.com.
Kelly L. Crossley, idealynx, +1-757-566-1032, kcrossley at idealynx.com
Tags: Central National-gottesman Inc., February 16, New York, Purchase, Turkey