Gulf Cryo continues to build its presence in the emerging Turkish market after its recent acquisition of Yaliz Gaz, a leading local industrial gas company with a well-established network in the Marmara region.
Yaliz Gaz joins Gulf Cryo’s growing Turkey-based portfolio following the acquisition of Deniz Gaz, a leading industrial gas company in Turkey with production plants in four locations across the southwest of the country.
Yaliz Gaz operates three filling plants, through which it serves a significant number of packaged gas customers with oxygen, nitrogen, argon, gas mixes, specialty gases and carbon dioxide (CO2) cylinders, as well as bulk liquid gases. With its addition to thw Gulf Cryo stable, the company now operates from nine sites supported by 170 highly competent employees.
“Turkey is a substantial market on the doorstep of our current geographic reach,” said Naji Skaf, CEO of Gulf Cryo. “Not only does Turkey provide us with significant growth opportunities, it can also serve us as a solid platform for future extension into Eastern Europe.”
Aykut Cakir, General Manager of Gulf Cryo Turkey, added, “The size and capabilities of Gulf Cryo Turkey establish the company as a prominent player in the market, delivering product service, quality, and diversity for a wide range of industries. The market for industrial gases in Turkey is constantly growing, demonstrating double-digit growth year-on-year, making this the ideal time for us to expand into this dynamic environment.”
Through the acquisition of two local companies, Gulf Cryo has firmly established its presence in Turkey, with a substantial base of operations enabling strong one-on-one customer relationships in the Middle East and Europe alike.
This strength of presence is the result of a capital and acquisitions spend of more than $100m over the last three years, to expand into new territories.
The established network in Turkey supplies a diverse client base, including healthcare and hospitals, shipyards, welding shops, steel mills, fish farms, agriculture and livestock breeding, food and beverage, automotive, construction, and oil refineries, located in Turkey and neighbouring countries in both Europe and the Middle East.