Çalık Holding

Çalık Holding
Industry Textile, energy, construction, finance, media, telecom and mining
Founded 1997 Istanbul, Turkey
Founder Ahmet Çalık
Headquarters Istanbul, Turkey
Key people
Ahmet Çalık (chairman)
Berat Albayrak (former CEO)
Revenue Increase US$2.8bn[1]
Total assets Increase US$8bn[1]
Number of employees
Website www.calik.com

Founded in 1981 through own initiatives of Ahmet Çalık, a member of Çalık family engaged in trade activities since the 1930s, Çalık Holding currently operates in energy, construction, mining, textile, finance and telecom sectors.

Founder and Chairman of Çalık Holding, Ahmet Çalık first started his entrepreneurial activities in textile sector and established Orta Doğu Tekstil in 1981 and Çalık Denim in 1987. As the early 90s marked the independence of CIS countries, he made the first investments abroad and established Gap Pazarlama to increase the share in international textile trading and Gap İnşaat to carry out plant constructions. Group companies were brought together under the same roof in 1997: namely, Çalık Holding. The Holding founded Çalık Enerji in 1998 and Aktif Bank in 1999 also to initiate its activities in energy and finance sectors respectively.

Achieving continuous growth through the investment strategies since the 2000s, Çalık Holding acquired Banka Kombetare Tregtare, operating in Albania and Kosovo, resulting in a 25% increase in the market share and becoming the largest bank of the country*. The Group acquired ALBtelecom, the most long-standing Albanian fixed line operator and internet provider in 2007 to enter the telecom sector.

Çalık Holding joined the mining sector by establishing partnership with Canadian-based Anatolia Minerals, of which shares are commonly traded at Toronto Stock Exchange. In 2011, it founded Çalık Cotton with the aim to be ranked among top 10 global companies trading in cotton.

Having participated in privatizations in electricity distribution sector, Çalık Holding provided electricity distribution services to 7 million subscribers, according to the 2015 data. The Group acquired YEDAŞ in 2010, Kosovo Electricity Distribution Company (KEDS) in association with Limak Holding in 2012, and ARAS EDAŞ in association with Kiler Holding in 2013.

Çalık Enerji, operating under the Holding, has earned its well-deserved place in ENR’s annual Top 250 International Contractors. The company turned its 20-year long business relations with the Japanese Mitsubishi Corporation into partnership in 2015.

Being one of the largest corporations in Turkey, Çalık Holding employs over 28.000 people across 17 countries and has an asset volume of 7.6 billion USD.

*2015 Euromoney Magazine, The Banker Magazine, EMEA Finance Magazine



Çalık's background is in textiles, with the family's involvement in the sector dating to the 1930s. The first company, Ortadoğu Tekstil, was set up by Ahmet Çalık in 1981; Gap Güneydoğu Tekstil, for denim fabric, was set up in 1987. It later expanded into overseas production, with factories set up in Turkmenistan from 1997.[2]

Çalık Denim http://www.calikdenim.com/tr

Gap Pazarlama http://www.gappazarlama.com

Çalık Cotton www.calikcotton.com


Çalık Group incorporated Albtelecom, the landline operator and Internet supplier of Albania, in 2007.

In 2008 Çalık acquired the Turkuvaz Media Group, which owns the Sabah newspaper and ATV television station, from the government's TMSF. The $1.1bn sale aroused substantial controversy in Turkey, not least because it was partially financed by $750m of loans from two state banks, VakıfBank and Halkbank,[3] and was sold for the minimum price, with Çalık the sole bidder.[4] A Turkish law limiting foreign ownership to 25% of media assets is believed to have contributed.[4] The acquisition was also financed with a 25% investment from Qatar allegedly lobbied for by Prime Minister Recep Tayyip Erdoğan. This caused controversy due to Erdoğan's close relations to Çalık's chairman Ahmet Çalık, a "close associate" according to The Economist, and CEO Berat Albayrak, Erdoğan's son-in-law.[2][5][6]

Turkuvaz' properties include the newspapers Sabah (since 2008), Takvim, Yeni Aktüel and Pas Fotomaç, and the television station ATV (since 2008). In 2012 Çalık attempted to sell the group.[7]


Main article: Çalık Enerji

Çalık Enerji http://eng.calikenerji.com

Yeşilırmak Electricity Distribution Company – Yedaş http://www.yesilirmakedas.com

Kosovo Energy Distribution Services – KEDS http://www.keds-energy.com/en

Aras Edaş www.arasedas.com

Construction and Real-Estate

Gap İnşaat http://www.gapinsaat.com/EN

Çalık Gayrimenkul http://www.calikgayrimenkul.com/en


Lidya Madencilik www.lidyamadencilik.com.tr

Polimetal Madencilik http://demo.polimetalmadencilik.com.tr


Çalıkbank was set up in 1999; it was renamed Aktif Yatırım Bankası in 2008.[2]

60% of Albania's Banka Kombetare Tregtare was acquired in 2006, and the remainder in 2009.[2]

Aktif Bank http://www.aktifbank.com.tr

BKT http://www.bkt.com.al


ALBtelecom http://www.albtelecom.al


In 2012, Çalık Holding completed the construction of a new power plant in Iraq. Another one will be completed soon. Together, they will provide 2,000 MW, with a potential capacity of 4,500 MW.[8] The company has also been involved in the construction of a Dental Hospital and an Eye Hospital in Turkmenistan with a capacity of 120 beds.

Çalık Holding has established international collaborations with companies including Rosneft, Initec Energia, Eni, Mitsubishi, EBRD, EWE, General Electric, Alacer Gold and Qatar Holdings.

Çalık Holding signed joint venture agreements with Alacer Gold, Çalık Holding's partner in the Çöpler Gold Mine in Iliç, Erzincan, for 16 properties located in different cities in Turkey. Holding owns 50% of the three companies established for this purpose. Total gold production in Erzincan's currently operating Çöpler Gold Mine exceeded 185 thousand ounces in 2011.

Executive Committee and Management

Ahmet Çalık – Chairman

Mehmet Ertuğrul Gürler – Deputy Chairman

Ahmet C. Yıldırım –(CSO) Board Member - President, Strategy and Financial Affairs Group

Saim Üstündağ – President of Audit Group

Ender Hıdıroğlu – Advisor to the Chairman

Giuseppe Farina – Advisor to the Chairman

Galip Tözge- President of Banking Group

İzzetiye Keçeci – Human Resources Director

Özlem Yalçın – Corporate Communications Director

Major Investments

Orta Doğu Tekstil, 1981

Çalık Denim, 1987

Gap Pazarlama, 1994

Gap İnşaat, 1996

Çalık Holding, 1997

Çalık Enerji, 1998

Aktif Bank, 1999

TTK, Türkmenistan Tekstil Yatırımı (Turkmenistan Textile Investment), 2000

E-Kent, 2002

Bursagaz, 2004 - 2008

Banka Kombetare Tregtare, 2006

Kayserigaz, 2007 - 2008

ALBtelecom, 2007

Lidya Madencilik, 2010

Yeşilırmak Elektrik Dağıtım (YEDAŞ) (Yeşilırmak Elektricity Distribution Company) 2010

Çalık Gayrimenkul, 2010

Çalık Cotton, 2011

Polimetal Madencilik, 2011

Kosova Elektrik Dağıtım (KEDS) (Kosovo Electricity Distribution Company), 2012

Aras Elektrik Dağıtım (ARAS EDAŞ) (Aras Electricity Distribution Company), 2013

Partnership between Çalık and Mitsubishi Corporation, 2015

Major Projects

Turkmenistan Dental Hospital - International Property Awards ‘The Best Facility Award’, 2013

Al Khairat Power Plant, (Best Global Project Award) 2014

Turkmenbashi International Sea Port, 2014

Garaboğaz Ammonia and Urea Plant, 2015

İlim Bilim Merkezi (Science Centre), 2015

Social Responsibility Projects

Malatya Education Foundation

Restoration of Atatürk Mansion (the Walking Mansion) in Yalova

Malatya Hasan Çalık Hospital

Mahmut Çalık Teaching Hospital

Mahmut Çalık Anatolian High School

“My First Job: Entrepreneurship” competition in association with YTÜ TTO


  1. 1 2 3 Çalık, The ÇALIK signature in 7 different sectors in 17 countries…
  2. 1 2 3 4 Çalık, Milestones
  3. Çalık Holding press release, 22 April 2008, ÇALIK HOLDING ACQUIRES ATV-SABAH
  4. 1 2 Reuters, 12 January 2008, Turkey eyes reform of media ownership law -paper
  5. The Economist, 8 May 2008, Circulation wars
  6. Hurriyet Daily News, 2008, Turk opposition wants PM censured over media sale
  7. Reuters, 30 January 2012, News Corp among 3 bidders for Calik media: sources
  8. Çalık Holding: Çalık Enerji signs on to Iraq’s electricity
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