Abdulkadir Konukoglu, Chairman, Sanko Group announced that the company is planning to venture out by investing in textile industries, overseas.
He said that opportunities in countries like Uzbekistan and Egypt are being assessed and their viability will soon be determined.
Chairman also expressed his views on country's textile industry and believes that the production is bound to drop as it is going through a structural transformation.
He explained that over-valued Turkish Lira and rising energy and labour costs led to a surge in imports that have adversely affected domestic industry.
He said that the industry is facing hard times and is in danger of becoming less significant.
Sanko Group enjoyed textile business share of 99 percent in 1994 which has now declined to just 60 percent.
After investing on textiles for over a century, the SANKO Group diversified its activities and started investing in the fields of construction materials, finance, packaging, beverages and automotive in 1990's.
fibre2fashion, News Desk-Turkey
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
