Carlyle Group announced that it has bought 50% of shares in the TVK Shipbuilding Industry Trade Inc in Turkey, which specializes in building chemical tankers. This investment, concluded recently and approved by the Competition Board, is the first investment made by the Carlyle Group in Turkey.

Mr Can Deldag GM of Carlyle Group Turkey indicated that their participation in the TVK is very important for the Carlyle Group and that they will work in close cooperation with the company management to ensure that the TVK is well positioned in the fast growing global shipbuilding sector. Mr Deldag pointed out that with its new facilities, strong management staff, know how, quality and efficiency, the TVK has considerable competitive advantages in many segments of the sector.

Mr Can Topsakal, the founder and chairman of the executive board of the TVK said that the Carlyle Group's partnership will boost their production capacity, ensuring high quality and rapid production capabilities. He added that when a second slipway, under construction, is completed, their production capacity will be doubled and they will start to build tankers with stainless steel tanks, which will be a first in Turkey.

The Carlyle Group is an international private equity firm managing total funds of USD 82.7 billion. The group invests in diverse sectors, including automotive, transportation, energy, industry, health, retail, technology, telecommunication and the media in Africa, Asia, Australia, Europe and North America.