By divesting its corrugated packaging plant in Istanbul, Turkey, to a local packaging producer, Austria-based Rondo Ganahl AG is exiting the Turkish market. According to Euwid, the decision marks the company’s complete withdrawal from the Turkish market.
The Istanbul site was originally purchased by Rondo in February 2013, but the site’s spatial limitations meant that any strategic realignment in line with Rondo’s long-term goals would have required significant investment at a different location.
According to Euwid, Rondo cited the strained economic environment in Turkey, rampant inflation, and substantial demands from trade unions as the key reasons for the divestment.
Rondo is anticipating to focus its economic activities on the group’s existing sites in other countries, such as Austria, Romania, Germany, and Hungary.
Rondo Ganahl Group manufactures customised corrugated board outer packaging, moulded fibre inner packaging, and corrugated base paper. The family-owned enterprise employs over 1,800 people across sites in Europe.
