Mediterra Capital, a private equity investor of leading companies in Turkey’s elevator-technology sector, has bought a majority stake in Arkel. Arkel has been developing elevator safety, comfort, electronic-control and motor-driver products with its own R&D company, supported by R&D projects TTGV and TUBITAK, in the country since 1998. Arkel’s founders and current partner Melih Küçükçalık will continue at the company in their efforts to make Arkel a world brand.
It plans new products to provide energy recovery and enhance elevator safety and traceability, in line with new European Union standards. It is in the process of moving to a new plant, from which it will export to Europe and India. Mediterra plans to invest a total of EUR250 million (US$264.8 million) in Turkish companies over the next four years.
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