Sümerbank

Sümerbank was a Turkish bank and industrial holding company. On 11 January 2002, Oyak Bank acquired Sümerbank and the combined bank is now known under the Oyak Bank name. [ [http://www.oyakbank.com.tr/english/introducing.asp Introducing Oyak Bank ] ]

Textile plant

Sümerbank began as a textile plant.

In 1932, President Ataturk and Prime Minister Ismet Inonu secured credit from the Soviet Union for the construction of the Kayseri Plant. The first complex (plant) in Kayseri, Turkey opened in September 1935. [ [http://www.esiweb.org/index.php?lang=en&id=120 Sümerbank - Kayseri - Reports - Turkey - ESI ] ]

When it was built, Sümerbank's textile plant produced most qualified and relatively cheap textile products of that time.

Sümerbank was the corner stone of Ataturk's economic revolution. The half a century of state-led industrialization represented by Sümerbank and its subsidiaries were closed and became a historical milestone in 2002.

ee also

*Kemalist ideology

References