New JV for T&B in Turkey
UK contract logistics provider Tibbett & Britten has become the latest European logistics company to enter the fast growing Turkish market. It has done so through a 50:50 partnership agreement with a local Turkish company, Arikanli Holding. The joint venture will trade as Yurtici Tibbett & Britten. Although T&B has provided cross border services to and from the Turkish market for some time, the joint venture will now allow it to offer domestic logistics services.
The Turkish market is of interest to T&B not only because of its size and proximity to the European Union but due to its strong textiles industry. Clothing is an important sector for Tibbett & Britten and a presence in Turkey will give it access to the seventh largest clothing manufacturing nation in the world.
By developing a presence in Turkey, Tibbett & Britten has joined Exel and DPWN in announcing deals in the market this year. Exel acquired Transbeynak, a specialist in pharmaceutical logistics, whilst DPWN purchased Berben Ekspress Nakliyat. Although membership of the European Union is not imminent for Turkey, there is no doubt that economic ties will be strengthened in the coming years helping to stimulate trade with the rest of Europe.
