ODE Continues to Grow Through Company Acquisitions

ODE Continues Investment in 2016, Acquires Full Stakes of Italian Partner in R-flex Production

ODE, which introduced rubber foam to Turkey and was the first to begin its production as a result of its partnership with L'ISOLANTEK-FLEX in 1999, became the sole owner of the company producing R-flex branded products after acquiring all shares of its Italian partner in March 2016, following 17 years of partnership. With this acquisition, ODE also signals that it will continue to grow through investments and acquisitions in 2016.

ODE Becomes Largest Rubber Producer from China to Italy

ODE Board Chairman Orhan Turan commented on this move, stating: "From our partnership with İş Girişim in 2007, we exited in 2012 by repurchasing all our shares and emerged stronger. As management, the decision we took at that time was to continue on our path with 100 percent of our own capital. We realized this by acquiring all shares of our partner in the production company of our rubber foam brand R-flex. From now on, in the production of all our brands, we will be producing with 100 percent of our own capital, using our 20-year producer identity and experience, with our own license and our own technology. When our new production base in Eskişehir, designed to meet the needs of 2030, is completed, with a total of 150,000 m² outdoor and 100,000 m² indoor space, we will become the producer with the largest covered area in Turkey's insulation sector and the largest producer in the technical insulation sector across the geography from China to Italy." Orhan Turan noted that investments will continue in 2016, adding: "Apart from our Eskişehir production base, which makes us proud, our investments at our Çorlu production facilities continue. We recently completed furnace renovation and capacity expansion work at our Starflex production facilities, which were among the top 500 largest investments of 2008 and have successfully continued operations since then. As ODE, despite all political, economic and geopolitical adversities, we will continue the investment drive we started in 2015 into 2016. Because, as we always say, we believe in this country and we invest in the future."

New Facility Has Production Capacity Twice Turkey's Rubber Market

With the completion of the large production facility in Eskişehir, construction of which began in 2015, ODE will increase its rubber foam production capacity to 20,000 tonnes, while currently maintaining market leadership in rubber foam under the R-flex brand. R-flex, which has the distinction of being the market's first brand, is used in approximately 70 percent of high-rise buildings in Istanbul. ODE, which expanded Turkey's rubber market 20-fold and holds 100 percent responsibility in the recognition and development of the rubber foam product through the training it provided, will have production capacity twice that of Turkey's rubber market upon completion of its new facility.

ODE Becoming Regional Power

ODE Board Chairman Orhan Turan, stating that with the completion of the Eskişehir production base they will consolidate their domestic leadership and raise their foreign growth targets, concluded his remarks as follows: "With our 30-year history in the insulation sector and the experience gained from our focus solely on this sector, we will continue on our path growing even further and accelerating. ODE, the most experienced in technical insulation, has with R-flex the most preferred brand in this field. Technical insulation is extremely important for us and together with our investments, we are determined to maintain our leadership in rubber foam. By combining this superiority in the sector with our increased high production capacity that will come with our new facility, we aim to increase our export figures by 100 percent within 4 years and turn ODE into a regional power."