Brose takes a stake in Pressan A.S.

Coburg/Istanbul (December 19, 2005). The Brose Group has acquired a 40 percent stake in Pressan A.S. Founded in 1966 and based in Istanbul, the automotive supplier is the leading manufacturer of window regulators in Turkey. Furthermore, the company produces vehicle components like latches, door handles and stamped parts. Under Brose license, Pressan produces window regulators and hood latches for the Turkish automobile market as well as stamped and plastic parts for the worldwide Brose plants.

Major customers of the Turkish family-owned company include Fiat, Ford, Renault and Toyota. In 2005, the company will generate a turnover of 45 million euros and has a headcount of 350. Business is to increase 70 million euros in 2008.

With the Brose Group’s technical and financial support, Pressan A.S. intends to further strengthen its position on the Turkish market.

Having a stake in this company will give Brose better access to the growing automobile markets in the Middle East. Apart from production, development and test facilities will be expanded in order to process the company’s international customer projects.

“The technical standard of Pressan’s facilities is exceptionally high,” said Michael Stoschek, CEO and President of the Brose Group, after the signing of the contract in Istanbul on 7 December.

The fact that both companies are family-owned is something Michael Stoschek regards as a further success factor for future collaboration: "Our company workstyle and values are very similar despite coming from different cultural backgrounds."

The Turkish family-owned company is run by a second-generation family member, Bülent Bilgincan, a son of the company founder.


Press contact:
Gabi Rujoub
Telephone: +49 9561 21 1653
Telefax: +49 9561 21 1704
E-mail: gabi.rujoub@brose.net