PETLAS Invests USD 60 Million

PETLAS, a domestically capitalized tire manufacturer in Turkey's tire sector that increased its exports by approximately 18 percent in 2018 compared to the previous year, reaching USD 202 million, is pursuing aggressive targets in US market exports. Exporting to a total of 109 countries in 2018 and ranking as the 11th company among all Turkish exporters in terms of "Most Exports to Different Countries," PETLAS aims to increase its exports to the US market to USD 100 million and beyond in the medium to long term. PETLAS is developing product strategies to support this growth target and preparing the necessary investment plans, with machinery and tire mold investments at approximately USD 60 million currently underway.

PETLAS General Manager Yahya Ertem, "The US is a very special market that brings together vehicles with very different characteristics and different product requirements.

From full steel industrial tire products to specially manufactured SUV vehicles not found in other countries, from trucks and buses crossing the continent from end to end to agricultural vehicles and machinery working in very large areas, to high-performance specially manufactured passenger cars, there are many segments and each of these segments is growing rapidly. In this exciting market, we are competing with our 100 percent domestically manufactured PETLAS and Starmaxx branded products. These products are manufactured with high technology, suited to new generation vehicles and machinery." he said. Stating that PETLAS, which operates within the AKO Group, Turkey's national industrial power, manufactures PETLAS and Starmaxx tire product lines with 100 percent domestic capital, domestic R&D and domestic labor force, meeting 90 percent of product specification expectations in the US market, Yahya Ertem continued: "In addition to full steel industrial tire products (ORR) required in industrial machinery used in the US, we also manufacture full steel bus and truck tires (TBR) and tires for SUVs at the highest quality standards. We have different products that will accelerate the momentum of our growth in the market we have entered with these products. In the US, one of the world's largest agricultural producers, our full steel tires designed for precision agriculture in agricultural vehicles and machinery are receiving great interest. Additionally, high-performance specially manufactured vehicles are in high demand in this country. Our UHP tires for high-performance vehicles are successful in the US market."