The European Bank for Reconstruction and Development continues to boost Turkey’s Anatolian regions, making €3.7 million loan to Kivanc Tekstil, a leading producer of clothing fabrics and yarn based in Adana. The EBRD financing will allow Kivanc Tekstil to purchase more than 50 weaving machines to expand its operations. The loan will also be used to install an additional generator that will increase the factory’s co-generation capacity and recycle its own steam, thereby saving water, energy and money.
Kivanc Tekstil, 100 per cent owned and controlled by the founding family of the same name, has successfully operated in the textile sector for more than 60 years. Today it is an industry leader in Adana, a major commercial centre and the home of Turkey’s textile industry. The company supplies high-quality ‘Made in Turkey’ fabrics using the latest designs. Thousands of national and international clothing manufacturers use Kivanc Tekstil fabrics, including brands such as Banana Republic, Zara and Ann Taylor. “We were impressed by this tight-knit family-owned company, run by four brothers, that operates in the highly-competitive global textile market, and in a challenging economic environment,” said EBRD Director for Turkey, Mike Davey.
Ziya Kivanc, CEO and shareholder in the company, said: “As our business grows and our focus shifts more to the export market, it is important for us to work with an international lender with the vision and capabilities of the EBRD. Working with the EBRD has been a learning experience for all of us at Kivanc and has enabled us to see our business from a different perspective.”
