Announcing the holding’s 2009 performance at a press conference in İstanbul Tuesday, Borusan CEO Agah Uğur said the conglomerate’s turnover decreased to $2.5 billion in 2009 from $3.4 billion in 2008. Noting that the company enjoyed $220 million in profits, Uğur said they expected to make $350 million in new investments before the end of this year.
Uğur said they expected to invest $3 billion in the energy industry over the next 10 years. “We will concentrate more on energy than on the other sectors we are currently operating in,” he noted. He said the company’s goal for 2010 was to achieve $3 billion in turnover while increasing their net profits to $300 million this year.
The chairman of Borusan’s board of directors, Ahmet Kocabıyık, cautioned that political instability would harm the country’s economy and called on the parties involved to seek compromise over problems. Turkish markets were negatively affected by a recent wave of police operations into a number of alleged coup plans along with tension between political parties.
