June 13 (SeeNews) - Turkish stationery products manufacturer Adel Kalemcilik Ticaret ve Sanayi [BIST:ADEL] said it contracted a company to build for it a 50 million Turkish lira ($27 million/20 million euro) factory.
Adel Kalemcilik did not name the construction company.
The factory, to be located in the province of Kocaeli, is expected to be built in 12 months after receiving the required permits, it said in a statement on Borsa Istanbul on Wednesday.
Adel Kalemcilik produces a wide range of pencils, pens, erasers, oil pastels.
(1 euro = 2.5024 Turkish Lira)