
Paint & Chemicals Co.- Port Co.-Holding Co.
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One of the largest paint, resin, alkyd and PVA producer as of today in Turkey
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The Group owned petrochemical tankers, petrochemical storage and port facilities in Marmara region
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It was also in real estate development
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Investments were made with short term debt and these were slow to generate the necessary cash for debt service
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Debt stock was 50% higher than its revenues and the company defaulted on its obligations
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Group CEO position was assumed for 2 years
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Revenues increased by 145% and debt stock reduced by 60%
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Headcount reduced by 20% and volumes of production increased by 180%
