OTTAWA, Sept. 12 /CNW Telbec/ - Export Development Canada (EDC) announced
today that it has loaned USD 20 million towards a USD 300 million corporate
facility for Dogus Holding A.S. (Dogus), a Turkish-based consortium with a
wide array of business interests.
"Dogus Holding is an important player in Turkey, in addition to key
European and emerging markets, and has a consistent track record in working
with Canadian suppliers," said Eric Siegel, President and CEO of EDC. "EDC's
participation in this corporate loan facility will look to build upon this
positive history to help grow Canadian exports into Turkey in the construction
and transportation sectors."
Turkey is Canada's 12th largest trading partner among emerging markets
and a key strategic market for EDC. Overall, Canadian exports to Turkey
doubled between 2003 and 2006 when it reached a high of CAD 520 million. In
2006 EDC facilitated $467 million of business in Turkey, a dramatic 25 per
cent increase over 2005.
Dogus will use the corporate facility to support the trade finance
requirements of its subsidiaries.
About Dogus Holding A.S.
Dogus Group is one of the largest conglomerates in Turkey with a vision
to become a regional leader in the service sector. Dogus Group is active in
five sectors with high growth potential, namely finance, automotive,
construction, tourism and media. With over 16 thousand workers serving more
than 6 million customers, the Group uses its dynamic human resources and
superior technological capital to create brand value that ensures customer
loyalty. The Dogus Group seeks leadership in its chosen core activities by
developing synergies amongst the Group's divisions as well as through global
EDC is Canada's export credit agency, offering innovative commercial
solutions to help Canadian exporters and investors expand their international
business. EDC's knowledge and partnerships are used by 6,400 Canadian
companies and their global customers in up to 200 markets worldwide each year.
EDC is financially self-sustaining and is a recognized leader in financial
reporting, economic analysis and has been named one of Canada's Top 100
Employers for six consecutive years.
For further information:
For further information: Media contact: Phil Taylor, Public Affairs,
Export Development Canada, (613) 598-2904, email@example.com