Leaving the past behind - Speeding along a bumpy road
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Leaving the past behind - Speeding along a bumpy road

Dynamic exporters, versatile deal-makers, innovative marketers, Turkey has some impressive smaller companies. But they are starved of capital. With interest rates crippling and maturities short, they have financed growth from reserves. Now, as their need for capital grows, they need new options. Metin Munir reports on the problems and opportunities of Turkey's corporate sector, profiles some of its most promising companies and meets the men who want to finance its growth

The road between the Marmara seaside town of Yalova and Bursa is one of the busiest and most dangerous in Turkey but this does not prevent Yasar Kucukcalik's chauffeur from driving at breakneck speed, violating every traffic rule known to man. We are on our way to the Kucukcalik textile works outside Bursa, a large industrial centre south-east of Istanbul. "Relax, nothing will happen," says Kucukcalik, as the powerful BMW overtakes and passes yet another lorry on the wrong side of the road.

Kucukcalik, who is on this road virtually every day, is a man in a hurry and does not mind the speed. In seven years he and his younger brother have built a $60 million business to become one of the largest home textiles manufacturers in Turkey. He has a busy agenda. Each of the company's three plants near Bursa is undergoing extensive expansion. Construction will soon start on the fourth, a $25 million polyester yarn plant near Istanbul. His brother Yilmaz is in Canada to sell their net curtains and furnishing fabrics. One of his buyers is in China, where more and more of the company's raw materials are sourced.

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