Sabanci group leader dies

From Rubber & Plastics News

Istanbul-Sakip Sabanci, head of Turkey's Sabanci Holding-which includes the tyre maker Brisa Bridgestone Sabanci Tire Manufacturing and Trading-died 10 April at age 71 from complications related to cancer.

Sabanci, considered one of the world's wealthiest individuals and a leading pilanthropist in Turkey, oversaw the founding in 1974 in Izmit of tyre maker Lassa Tire Inc., which 14 years later was turned into a joint venture with Bridgestone Corp.

Sabanci also has a tyre cord processing company, KordSA, and three other tyre-related joint ventures-DUSA (DuPont-Sabanci) International LLC, BEKSA (Bekaert-Sabanci) Steel Cord Manufacturing and Trading Inc. and SAKosa Sabanci Industrial Yarn and Tire Manufacturing and Trading Inc.-on the same site in Izmit.

Sakip Sabanci inherited control of Sabanci Holdings in 1966 upon the death of his father, Haci Omer Sabanci, who had gone into business for himself in 1932 and built an empire of companies over the following three decades.

Sabanci Holdings today reports more than $5000 million in annual sales and has joint ventures with more than a dozen leading industrial companies, including Toyota Motor Corp., Kraft Foods International, Banque Nationale de Paris, Dresdner Bank and Philip Morris International Inc.

A state funeral was held 13 April in Istanbul. Sabanci is survived by his wife, Turkan, a son and two daughters.