Işıklar Ambalaj, a package-producing affiliate of Turkey’s Işıklar Yatırım Holding, has decided to establish a cement bag factory in northern Iraq, the company said in a written statement to the Anatolia news agency Tuesday.

Prior to the Gulf crisis Iraq was one of the biggest markets for the business, with an annual consumption of 400 million cement bags.

Işıklar Yatırım Holding was established in June 1977 as Cumra Paper Industries. The company went public in June 1994 with a 10.72 per cent share offering and started trading on the Istanbul Stock Exchange.

Işıklar Yatırım Holding posted a $2 million profit in the first quarter of 2010.

Işıklar Ambalaj, a package-producing affiliate of Turkey’s Işıklar Yatırım Holding, has decided to establish a cement bag factory in northern Iraq, the company said in a written statement to the Anatolia news agency Tuesday.

Prior to the Gulf crisis Iraq was one of the biggest markets for the business, with an annual consumption of 400 million cement bags.

Işıklar Yatırım Holding was established in June 1977 as Cumra Paper Industries. The company went public in June 1994 with a 10.72 percent share offering and started trading on the Istanbul Stock Exchange.

Işıklar Yatırım Holding posted a $2 million profit in the first quarter of 2010.