Swiss giant to buy 70 pct stake in local dental company

Foreign interest in the Turkish economy continues, with Swiss companies getting in on the action. After the Swiss Sika group, one of the largest companies in the world, acquired the local ABC Kimya chemical company in recent days, Swiss Straumann Holding AG, the world's largest dental implants manufacturer, bought Ankara-based Batıgrup.

Giant Swiss companies are preparing for a second acquisition in Turkey within 15 days. The first one took place on Aug. 24 when the Sika group, a Switzerland-based world leader in building chemicals and industrial adhesives sector acquired ABC Kimya, one of the leading mastic and glue manufacturers in the market. Sika group operates 190 factories in 98 countries around the world.

With this acquisition, Sika is preparing to boost its presence in Middle East and African markets.

Straumann Holding AG, another Swiss giant and the world's largest dental implants manufacturer, announced that it would buy 70 percent of Batıgrup Dental Products, known as Batıgrup. The Swiss giant will also take over some of Batı Dental Domestic and Foreign Trade Inc. and Botiss Dental Medical Supplies Foreign Trade Inc.'s assets.

There is already a strong business relationship between Batıgrup and Straumann. Established in 2002, Batı Dental serves as Straumann's sole authorized distributor in Turkey.

The Ankara-based company has offices in Istanbul, İzmir, Adana, Bursa, Konya, Trabzon, Kayseri, Gaziantep and Samsun.

Founded 60 years ago in Basel, Straumann employs 4,000 people. Its products are sold in more than 100 countries. The company had revenues in 2016 of 918 million Swiss francs.