Expansion into new markets is almost always a source of excitement for a company and also its investors, which is why it is going to be interesting to see how the Cyber Enviro-Tech Inc. (OTC: CETI) stock ends the week. Yesterday, the company was in sharp focus after it made an announcement with regards to its expansion into Turkey.
Turkish Subsidiary
In the news release from the company yesterday, it was announced that Cyber Enviro-Tech had set up Cyber International Ltd., which would be based out of Istanbul and function as the company’s Turkish subsidiary. The company noted that the new subsidiary would meet the immediate need of Cyber Enviro-Tech soil remediation and sludge bond capacities. However, that was not all. The company also stated that a fully owned foreign subsidiary would also allow it to manage its international contracts better.
Further Information
In order to further strengthen its initiatives, the company set up a strategic union with Turkey’s Delta World Environmental Solutions. Delta would help Cyber Enviro-Tech in tapping into its significant business relationships across the Middle East, Turkey, and Africa. It remains to be seen if the Cyber Enviro-Tech stock ends the week on a strong note or not.
Management Quote
“CETI is extremely pleased with the significant contributions and results achieved by Mr. Gurel and his team at DELTA in advancing environmentally friendly projects in Turkey and the Middle East,” said Kim D. Southworth, co-founder and CEO of CETI. “His extensive contacts, relationships, and reputation have been invaluable in expanding our international business and navigating the complexities of foreign markets. We look forward to a long-term, mutually beneficial partnership with DELTA.”
