Akkök Holding, one of Turkey's most well-established industrial enterprises, has applied to the Competition Authority by signing an acquisition agreement for a 51 percent share in Epsilon Composite, a company that manufactures for global companies.
Akkök Holding CEO Ahmet Dördüncü stated that they aim to achieve international leadership in the industry with Epsilon Composite, which manufactures and exports composite products for a variety of heavy industries, particularly aviation.
Operating in the chemicals, energy, service, textile and real estate industries, Akkök Holding makes a significant investment in the composites industry, the technology of the future. The company has signed an agreement to acquire Epsilon Composite, which is operating in Ankara, and has applied to the Competition Authority. Following approval by the Competition Authority, 51 percent of Epsilon will be acquired by Akkök Holding and its main shareholders ARD Holding A.Ş. and NDÇ Holding A.Ş.
Founded in 2011, Epsilon Composite manufactures and installs high-tech composite parts and components for various industries, particularly aviation. The company has international business partners such as Airbus, Bell and KAI, and manufactures domestically to domestic defense companies. The company manufactures products with high export value per kilogram, and its exports account for 95 percent of its total sales.
“The dependency on foreign resources will decrease in composite”
Akkök Holding CEO Ahmet Dördüncü stated that the heavy industry sectors served by Epsilon are strategically important for Turkey. Dördüncü said, “The high value-added composite export of Turkey will reduce our country's imports and foreign dependency in this important area. While launching our investment as Akkök Holding, we considered Epsilon's exporter identity.
We believe that such a valuable manufacturer with global customers will create synergies with our portfolio. We have focused on long-term investments that will contribute to our sustainable and healthy growth in line with our future objectives. We will continue to boost exports and employment in Turkey with these types of investments that are compatible and complementary with our strategies.”
“We aim for international leadership”
Dördüncü stated that they plan to turn composite into one of their main business lines with the new investment and added that Epsilon will gain advantages by expanding collaboration with group companies, particularly DowAksa, a subsidiary of Akkök Holding, which provides carbon fiber composite solutions to industrial industries. Dördüncü said, “We will transfer our nearly 70 years of industrial experience to Epsilon, which has joined our organization, and make the necessary organic and inorganic investments. We aim to be the leader in international competition with Epsilon in the emerging composites market.”
Akkök Holding and its group companies began 2021 with acquisition investments. Akkim, a subsidiary of the Holding, acquired USK Kimya, Turkey's largest carboxymethyl cellulose manufacturer, for US$ 63 million.
