erman ılıcak

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  however, the recession has taken its toll on projects around the world. for example, in the past, “80% of our turnover was from the commercial real estate market in russia, but after the credit crunch, most of the projects at this market were terminated or postponed,” says erman ilicak, president of turkey’s renaissance construction.
  
  he says his firm is fortunate to have branched out into industrial work and moved into other geographic markets. ilicak says renaissance now has a $1.5-billion backlog in libya and is moving into the saudi market. the firm also is building a crane manufacturing plant in russia for germany’s liebherr.