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ISTANBUL (Turkey), January 12 (SeeNews) – Turkish paints, construction chemicals and paint application equipment producer Dyo Boya Fabrikalari Sanayi ve Ticaret [BIST:DYOBY] said it has decided to raise the capital of its wholly-owned Russian unit Kemipex Joint-Stock Co by 6.1 million Russian rubles ($94,867/80,185 euro) in cash.
Dyo, a subsidiary of local holding company Yasar Holding, made the announcement in a filing with Borsa Istanbul on Friday.
Kemipex was established in 1996 to sell, market, and distribute products made by the Yasar Coatings Group both in Russia and neighbouring countries. The company is active in the areas of construction coatings, furniture coatings, industrial coatings, and printing inks, according to Yasar Holding.
Yasar Holding is active in the food and beverages, paints, agriculture, livestock and fisheries and tissue paper sectors through its subsidiaries.
(1 euro = 74.8272 Russian rubles)