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Rose K sales set to soar in Turkey
Menicon Co. Ltd. of Japan have signed an agreement with Eczacibaşi Pharmaceuticals in Turkey to enter the contact lens and lens care product market in Turkey. An exclusive distribution agreement was agreed on 1st November 2010 in Istanbul. Eczacibaşi Industrial Group are listed on the Turkish stock exchange and have an annual turnover of $2.5 billion with $410 million in the Healthcare sector. Menicon is the largest RGP manufacturer in Japan and expects global revenue to top $500 million in 2010.
The agreement was signed by Sedat Birol, Executive Vice President of Eczacibaşi Healthcare Division and Toshio Matsushima, Senior Executive of Menicon Co. Japan at a special ceremony. Also attending the meeting was William Thomas, Managing Director of DTCL, who manufacture and supply a number of contact lens products to Turkey.
Pictured during the signing ceremony, Mr. Sedat Birol (left) of Eczacibaşi Healthcare and Mr. Toshio Matsushima (right) of Menicon Co. Japan.
Mr. Birol said, 'The agreement would enable Eczacibaşi to take full advantage of the growth potential of Turkey's contact lens market. They were pleased to partner with Menicon because the size and innovative strength of the company's large product portfolio would enable it to compete with the large players in Turkey's contact lens market currently valued at about TL.60 million.'
Toshio Matsushima commented, 'This agreement will provide Menicon a major opportunity to expand into all of the Middle East and present a new challenge for the company'.
William Thomas commented, 'This is a great move for Menicon and in particular DTCL. Our Rose K sales in Turkey were already significant, but the projected forecast sales by Eczacibaşi for the next five years coupled with their internal resources will make them a major Rose K customer for us. We look forward to becoming the major RGP contact lens supplier in Turkey.'
Pictured (right) are the management teams of Eczacibaşi Healthcare Division and Menicon Global Operations at the sigining ceremony in Istanbul.
