Foreign interest continues to the Turkish economy. The European packaging giant Hamburger Recycling Group is buying Kastaş Paper and Abraaj, the biggest fund of the Gulf capital, is buying ticketall.com.
Two more were added on the same day to news of the recent mergers and acquisitions. These are the Hamburger Recycling Group of Prinzhon of Austria, one of the biggest packaging companies in Europe, which explains the fact that we are going to produce 1 billion liras for Kütahya in the past days. The company applied to the Competition Board to buy İzmir-based Kastaş Kağıt. After the approval of the Board, Kastaş will become the new owner of the Austrian company.
The European giant Prinzhon also has other investments in Turkey. Apart from the factory that will be established in Kütahya and planned to be operational in 2020, the company has two factories in our country, Corlu and Denizli. Prinzhorn Holding, which is affiliated with Hamburger Recyling Group, operates in 14 countries besides Turkey and employs a total of 6,300 people. The company is not only in packaging but also in the recycling and paper sectors as one of the largest in Europe. Prinzhorn's two main companies with an annual turnover of 1.23 billion euros are Dunapack Packaging and Hamburger Containerboard.
Kastaş's new owner, the Hamburger Recycling Group, is collecting and trading waste papers.
Kastaş, a privately owned company based in Izmir, was founded in 1973. In 1983, it established the first modern facility in Alsancak and became KASTAŞ Kağıt San. and Tic. Inc. to become a Joint Stock Company. The company, operating in two facilities in Izmir, separates and classifies paper-cardboard, glass, plastic, nylon wastes and packaging wastes according to their types and then binds them to recycling plants.