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Izmir-based CMS authorizes HSBC for share sales to foreign entity

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CMS to sell shares to foreign entity

According to reports based on reliable sources Izmir-based CMS, a wheel manufacturing company in Turkey has authorized HSBC for share sales to foreign partner.  CMS is the biggest aluminum alloy wheel manufacturer in the country and the third biggest in Europe with its 3 production facilities established on a total area of 262.356m2 and over 3000 employees.

It has a 9 million wheels/year manufacturing capacity, and CMS is known as one of the leading aluminum alloy wheel producers in the world for automobile and commercial cars in the automotive industry (OEM ) and in the automotive after-market. CMS produces aluminum wheels for a total of 22 car brands, including Mercedes and BMW. However, there has been no statement fron the company so far in regards.

CMS is known to have its major capacity in foreign markets with an annual turnover of TL 1,2 billion. The company’s turnover target for this year is 1,4 billion TL.

SOURCE: TURKISH MEDIA

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