Bodycote Expands into Turkey
Bodycote International Plc has completed the formation of a joint venture with ISTAS, Turkey's largest commercial heat-treat group. Under the agreement, Bodycote acquired a 60% share of ISTAS businesses in Istanbul, Izmir, Bursa, Ankara and Adana.
ISTAS serves the growing number of automotive suppliers locating to Turkey. The agreement will enable ISTAS to expand into other emerging markets. The business will form part of Bodycote's Central European Group and will be managed from Istanbul.