Krone takes over all shares in Krone Dogus Treyler A.S.

Werlte/Tire, 30.01.2015 – The Fahrzeugwerk Bernard Krone GmbH and the Turkish company Doğuş Otomotiv have been working together very closely in a joint venture since October 2007. As part of the Krone Doğuş Treyler A.S., the two companies produce trailers at the Tire site in Turkey.

Doğuş has announced that it plans in future to concentrate more on the service sector, while Krone wishes to expand further in the emerging Turkish market and the surrounding markets. In light of this, a contract was signed on 29 January 2015 and as a result of which, the production facility will pass 100 percent into Krone ownership. The closing of the transaction is subject to the clearance by the Turkish Competition Authority. The decision was taken by mutual agreement and in a spirit of friendship between the two owner families, Sahenk and Krone. The two partners have agreed not to disclose details of the content of the agreement.

"We are confident that the Turkish market will continue to develop positively in the future, and that the demand for transport equipment from Krone will gradually increase," stated Bernard Krone immediately after the signing of the agreement. He also emphasised that Krone plans to continue to use the existing and proven distribution channels in Turkey; this will now be served by the KTI sales team (Krone Trailer International) that is already looking after various customers in the neighbouring states from the Tire site.

History
Doğuş Otomotiv has been selling Krone trailers in the whole of Turkey since 2003. The joint venture agreement described above was signed on 31 October 2007. The investment in the new Krone Doğuş Treyler A.S. factory totalled some EUR 35 million. The capacity of the factory is 10,000 units per year. Commissioning was originally scheduled for the first quarter of 2009, but was postponed until the end of 2012 due to the global financial and economic crisis. The plant was officially opened in April 2013. Krone's Tire site currently has approx. 100 employees, predominantly producing various standard European Krone Krone trailers.


Ingo Lübs will be pleased to respond to any queries:
Tel. +49 (5951) 209-249
or by mail:ingo.luebs@krone.de


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