The Saribekir family directly and indirectly owns close to 100% of Sarten’s shares. As Mr. Yusuf Saribekir is the founder of the Company, his son, Mr. Zeki Saribekir and his daughter Ms. Zeren Saribekir take posts in management. Besides being the Chairman of the Company, his son is the CEO and General Manager of the Company whilst his daughter acts as the Executive Export Manager.

The IFC investment will consist of an A Loan of up to USD10 million to provide medium-term liquidity and working capital support.

10.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	10.0
Equity

* These investment figures are indicative

Having closed its plant in Izmir, Sarten currently has eight production facilities in Turkey mostly located in industrial parks. The largest of the Company’s factories is in Silivri, a county on the Thracian peninsula, 70 kilometers west of Istanbul. While other factories in the most industrialized Marmara Region are located in Corlu (Istanbul), Gebze (Kocaeli) Karacabey (Bursa) and Gemlik (Bursa) Counties, the Company has operations in provinces of Manisa in Aegean and Adana in Mediterranean Regions. Furthermore, additional production facilities do also exist in the surrounding countries, such as Bulgaria (Pleven), Romania (Tecuci) and Russia (northern Caucasus).

Ensure the sustainability of a domestic company and maintaining local employment: The Project will help a leading Turkish tin can producer to sustain its competitive edge over its peers and maintain current employment of close to 1,500. Furthermore, the Company will continue to be a source of revenues to the Government contributing to Turkey’s economic performance going forward.

Improved Environmental & Operational Performance: With the Project, improved performance with respect to environmental- and social-matters will be assured while efficiency would be enhanced, which in turn will help the Company to be a benchmark for the industry.

Medium-term Financing: Owing to current market dynamics, any additional increase in payment terms likely to be caused by expectations on the depth and duration of the crisis, might amplify working capital needs of Sarten. So, the provision of the medium-term financing by IFC would help the Company to weather the crisis, when such a financing is not available/highly priced in the market.

Best Practice & Expertise: IFC’s presence will ensure Sarten’s compliance with the best practice in environmental and social standards, where Cleaner Production opportunities will be further explored. Furthermore, thanks to IFC’s internal expertise of the packaging industry support in improving efficiency will continue.

This is a Category B Project according to IFC’s Environmental and Social Review Procedure, because IFC concluded that the potential adverse environmental and social impacts presented by the investment are few in number, site-specific and have been or can be readily mitigated by adhering to generally recognized performance standards, guidelines or design criteria.

Key issues reviewed during the appraisal of the investment include:

- adequacy of environmental, health and safety and quality management systems,
- air emissions and wastewater treatment and quality,
- hazardous materials and waste management;
- energy efficiency, resource conservation;
- human resources management;
- occupational health and safety including workplace quality and conditions, life and fire safety;
- community health, safety and security.

Information on how these issues will be addressed in accordance with the IFC’s Performance Standards and other requirements is presented in the Environmental and Social Review Summary (ESRS) of the investment. The ESRS and the relevant Environmental and Social Action Plan (ESAP) are available at the World Bank Infoshop.