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2024.03.14
Equipment investment transforms business model of major textile player
About the client
Established in 1982, Else Elektrik, located in the north-west region of Turkiye, has been a leading player in the knitting market. With over 500 employees, the company specialises in supplying and exporting yarn and knitting fabrics to various companies within the domestic Turkish market.
Sector
Specialised technology
Partner / Client
Else Elektrik A.Ş.
Country
Turkiye
The challenge
Despite its longstanding presence in the market, Else Elektrik faced challenges sourcing yarn from external providers. The prolonged delivery times and concerns about the quality of the supplied yarn prompted the company to explore the option of in-house yarn production. However, lacking the necessary equipment for this shift, the company needed a strategic solution.
The solution
Else Elektrik turned to BNP Paribas Leasing Solutions to secure long-term asset financing for the acquisition of essential yarn manufacturing machines. Leveraging BNP Paribas Leasing Solutions’ expertise in project financing, asset expertise and competitive rates, the partnership was deemed ideal for fulfilling the company’s funding needs.
The benefits
- Enhanced control: In-house yarn production empowered Else Elektrik to dictate quality and delivery schedules, boosting efficiency and customer satisfaction.
- Increased profitability: Eliminating dependence on external suppliers reduced costs and improved profit margins.
- Market expansion: The newfound agility enabled Else Elektrik to explore new product lines and market opportunities.
- Long-term growth: Flexible financing terms equipped Else Elektrik for sustainable growth and future investments.