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The Chemistry is Right

The Turkish company Şişecam is the largest producer of flat glass in Europe. In 2013 Şişecam acquired the Fritz Group in Besigheim, Germany. Şişecam CTO Prof. Sener Oktik explained in an Interview with OstContact magazine what the strategy behind this acquisition was and why it is different than it seems at first glance. Please find an English summary of the German interview below. And be sure to catch Prof. Oktik at the upcoming 2. Turkish-German Innovation Summit in Istanbul, where he will be on a panel discussion about hidden Turkish champions in Germany.

 

If a Turkish industrial giant acquires a well-established medium-sized German company people may think they want to buy “Know-How”. That it can be different can be seen in the example of the Fritz Group and Şişecam merger in 2013. “We are the ones who provide Technology”, CTO Sener Oktik clarified recently in an interview. Actually the German company didn’t have R&D capacities at all. Şişecam established a task force with the target to improve the quality of the products and to gain advance in the market.  The company invested not only with financial resources but also with Know-How and market experience to put Fritz on future track. 

 

“We try to introduce our philosophy, policies, standards and industrial processes at our acquisitions”, Oktik mentioned. But is the Turkish German liaison a success for both sides? – For sure. The new mother offers Fritz the chance to be marketable also in future, and for Şişecam, Fritz is a ticket to the European market. “What we are buying is market share”, Sener Oktik mentioned. The chemistry between Turkey and Germany seems to be right – at least when it comes to flat glass.   

 

To see the original article, click here

Visit the publisher website here

Register for the upcoming 2. Turkish-German Innovation Summit here

GSC Team
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Date: 3/23/17