Central National-Gottesman Aquires 80% Stake in Turkish Company Tradera
Aug. 18, 2011 - Central National-Gottesman Inc. (CNG) announced that its European subsidiary, Central National-Gottesman Europe GmbH, has acquired an 80% ownership interest in Tradera S. A., a leading supplier of wood pulp and packaging materials to the Turkish and Greek markets.
The company will operate as "Central National Dis Ticaret A.S." and will eventually change its name to "Central National Turkey," subject to the provisions of Turkish law.
"Founded by Mr. Osman Tokat, Tradera has become one of the most respected suppliers of wood pulp and corrugating materials in Turkey," said Ken Wallach, Chairman and Chief Executive of Central National-Gottesman Inc.
"We are pleased that Osman Tokat, who has been our long time sales agent, will continue to lead Central National Turkey as its Managing Director, and we are delighted to welcome him and his excellent team of sales and support professionals into the Central National organization," Wallach added.
As part of the agreement, Central National Europe has the option to purchase the company's remaining shares at a later date.
SOURCE: Central National-Gottesman