FUPA LIFT SIGNS OFFICIAL PARTNERSHIP AGREEMENT WITH SANDFLOWER S.A.R.L.

The partnership between Fupa Asansör and Sandflower Sarl, a private equity firm with renowned brands such as Scor Spa and Fermator, was announced on Tuesday September 3, 2019 at a press conference at the Radison Blu Hotel in Ataşehir, Istanbul.

Fupa Asansör and Sandflower Sarl, a privately owned Luxembourg investment firm that includes brands such as Scor Spa and Fermator, announced a partnership agreement on Tuesday, September 3, 2019 at a press conference at the Radison Blu Hotel in Ataşehir, Istanbul. The conference was held with the participation of journalists under the auspices of Fupa Asansor board members Rıza Latif, Sehrazat Latif, Can Latif, Ruya Latif, Fermator representative Eduard Amigo, Sales Director, Idil Latif, Marketing Director for Fupa Digital, and Turkey's Fermator Executive Director and the Middle East region of Murat Camgoz.

In his address, the chairman of the board of Fupa Asansor A.Ş. Rıza Latif noted that for 30 years, Fupa Asansor has managed to maintain its place among the leading manufacturing companies and recognized trademarks of the elevator industry in the domestic and world markets. Mr. Latif said that despite the economic difficulties in Turkey, over the past two years, thanks to its sustainable growth strategy, the company has managed to build a new plant, as well as the highest test tower in Turkey with a total value of 10 million euros and successfully establish itself in the industry. He said: “In May, a message was published on the website of the Antimonopoly Committee about the merger of the company with the Luxembourg company Sandflower Sarl. We learned about this not only in the industry, but throughout the market. We, the responsible leaders of Fupa Asansor, organized this meeting specifically to share with you the details of the merger, in order for you, dear press representatives, to be able to convey this information to the public and industry. Fupa Asansor İnş. Paz. Tic. A.Ş. has been approved for membership in Luxembourg-based Sarandflower Sarl, which includes manufacturers of elevator components such as Fermator, Sicor Spa and many others, this solution strengthens the corporate potential of Fupa Asansor and Sandflower, this partnership is another important step towards institutionalizing the company, and thanks to the synergy of the two companies, we can to strengthen our material base.”. Mr. Latif ended his speech this way: “Thanks to such a partnership, the company will be able to work even more efficiently in the elevator industry, as it will become more energetic, more innovative, more dynamic, more professional and, most importantly, more productive. An agreement between the two companies will not affect Fupa Asansor’s existing business activities, its relationships with customers, suppliers and staff. As before, all operations will be carried out by existing hands In addition to some exceptions in the short term, all planned production, commercial and investment activities will be entirely funded by Fupa Asansor, and through this partnership, as well as ongoing production policies, equipment investments, development activities, new Fupa Asansor will increase its workplaces and experience of international cooperation of new partners in Turkey, the Middle East, Central Asia, Balkan states and Europe and will be a global and a recognizable brand. The company will significantly accelerate sustainable growth through strategic investments and take a leading position in the industry. We hope that this partnership will be useful for the company, the industry and, most importantly, for our country and citizens. ”

Fermator Sales Director Eduard Amigo spoke at the press conference, as well. At the beginning of his speech, Fermator Sales Director Eduard Amigo thanked the Latif family and said the following regarding the partnership: “Business mergers are usually based on commercial, political or other interests. And our partnership with Fupa Asansor is based solely on respect and good intentions. Our the partnership draws strength from the 18-year-old family friendship and respect that arises from such friendship. I represent the Gomez family today. Unfortunately, they were not able to participate in today's press conference. On behalf of the family, I would like to thank everyone for your time and consideration. " Mr. Amigo also provided a brief summary of the Fermator and Sandflower companies and provided a short video presentation on the 20-year collaboration between the two companies. Mr. Amigo spoke about Fermator's long-term plans and emphasized that the company will continue its investment activities in different countries. He said that the company did not hesitate to decide on such an investment, despite the crisis experienced in Turkey, because such crises periodically happen, and soon the country's economy will undoubtedly enter a growth stage. Mr. Amigo assured that the partnership between the Fupa and Fermator families is aimed at making a significant contribution to the elevator industry and expressed satisfaction with the cooperation.

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