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Dec 1, 2008 12:00 PM

Royal Vopak announces that it has acquired GY Elyaf ve plik Sanayi Ticaret Anonim irketi from Global Yatırım Holding AS.

The principal asset of the company is an industrial plot of land on the coast of the Sea of Marmara in the vicinity of Yalova, Republic of Turkey. Global Yatırım Holding is expected to have direct involvement in the future of the company, which aims at constructing an independent storage terminal serving the greater Istanbul area for the import of liquid bulk chemical, oil, and vegetable oil products.

The industry around the Sea of Marmara is developing rapidly, and major customers of Vopak have expressed an interest in using independent storage facilities in this area.

The coming period will be used to obtain the required permits and to develop marketing, technical, and economical plans. Thereafter, a final investment decision to construct the terminal can be taken.