Asia

UK drinks company Diageo has announced the acquisition of Turkish spirits firm Mey Icki Sanayi & Ticaret for £1.3 billion.

Mey is one of the largest alcohol producers in Turkey, controlling around 80 per cent of the market for the Turkish national drink, raki. It also controls around 65 per cent of the country’s vodka market.

The deal will give Diageo access to Mey’s extensive distribution network as well as its production facilities. The Istanbul-based company currently has 50,000 retail outlets across Turkey.

The US antidumping law is not working, says William E. Perry. It destroys US jobs instead of protecting them, while Trade Adjustment Assistance for Firms (TAAF) could be just what they need.

Polaris International Industrial Parks looks set to become an historic project that will cement economic relations between Turkey and Egypt. Osman Arikan, general manager, and Elif Gurpinar, corporate communications director, talk to Jayne Alverca.

In a fascinating insight into the flow of discarded garments from the West into the free ports of western India, and their subsequent return in different guises to Europe and the US, executive director Nohar Nath explains to John O’Hanlon how Kishco Group manages the complex net of supply, processing and demand.

CleanTech Innovations, Inc announced today that it has signed two initial wind tower supply contracts totaling $11 million with a subsidiary of China HuaNeng Group, the largest energy company in China. The wind towers will be supplied to HuaNeng later this year.

"These two recent contracts represent approximately 50% of our entire 2010 revenues,” said Bei Lu, chairman & CEO of CleanTech. “The new contracts are critical to meeting our 2011 revenue targets in a favorable market environment.”

The global market for coatings is forecast to reach almost $100 billion by 2015, according to research by Global Industry Analysts, Inc. (GIA).

The new GIA report, Coatings: A Global Strategic Business Report, predicts that the market will expand to $98.69 billion in the next five years, led by rapid industrialization, economic activity and vibrant demand from automotive and construction sectors in developing countries.

Abraham Stephanos, COO of Tata Steel Processing And Distribution Limited, talks to Jayne Alverca about the challenges of shifting focus from a manufacturing orientation to viewing service as a key differentiator.

Joe Rousmaniere, CEO of PETRONAS Base Oil (M) Sdn Bhd, talks to Jayne Alverca about the alchemy that transforms a commodity into an added value product with a global market.

Over 30 years Dolphin Offshore Enterprises has emerged as India’s primary offshore oil and gas industry diving and engineering service company, with a reputation for efficiency and innovation. Joint managing director Navpreet Singh talks to Gay Sutton about his strategy for expansion and development.