Haber

DYO Invests TRY 28 Million

Turkchem 29 Apr 2014 22 3 dk okuma

TURKCHEM

DYO, one of Yaşar Holding's companies, is doubling its growth targets and successively bringing new investments online.

DYO, a company of Yaşar Holding, is doubling its growth targets and bringing new investments online in rapid succession. In 2013, DYO Boya decided to invest in the powder coating and coil coating sectors, realizing a total investment of TRY 28 million.

With its investment in the powder coating market, where foreign competitors dominate, DYO will export from its factory in Turgutlu to a broad region comprising Europe, Russia, the Middle East and North Africa. The DYO Powder Coating Factory, established on a 10,000 square-meter site in the Manisa Turgutlu Organized Industrial Zone, will reach an investment amount of TRY 25 million by the end of the project period.

DYO Boya Realizes Total Investment of TRY 28 Million

Powder coating is one of the bright spots in the paints sector both globally and in Turkey. The global powder coating market is valued at EUR 5 billion, while in Turkey in 2013, production reached 75,000 tons and the market value was EUR 220 million.

Turkey ranks as Europe's third-largest powder coating producer after Italy and Germany. With its new factory in Manisa Turgutlu, DYO is making its mark in the Turkish powder coating market.

DYO, which produces in all subsectors including construction paints and thermal insulation systems, industry, furniture, automotive and marine applications, will increase its product diversity, market share and exports with powder coating. The Turgutlu DYO Powder Coating Factory, with an investment amount reaching TRY 25 million by the end of the project period, will initially operate with an annual production capacity of 6,000 tons on a total 10,000 square-meter site.

To Reach Capacity of 20,000 Tons of Powder Coating Production

Powder coating investment is aimed to reach a capacity producing 20,000 tons of powder coating annually by the end of 2017. Powder coating is used in many branches of industry such as white goods and household appliances, furniture metal parts, architectural, metal goods, automotive parts and production machinery.

The factory opening ceremony, held at the Turgutlu Organized Industrial Zone, was attended by Selçuk Yaşar, Honorary Chairman of Yaşar Holding who laid the foundations of DYO in 1954 and brought numerous brands to Turkish industry, as well as Yaşar Group executives and DYO customers.

Turgutlu Mayor Turgay Şirin, attending the opening, presented a plaque of appreciation to Selçuk Yaşar for DYO's investments and contributions to the district's industry.

Providing Employment to 1,500 People

Speaking at the ceremony, İdil Yiğitbaşı, Chair of Yaşar Holding's Board of Directors, said: "DYO, founder of Turkish paints industry, continues to lead the paints industry with its total turnover across all subsectors. From construction paints to furniture coatings, from industrial paints to automotive repair and marine paints, we continue to provide quality service to our customers across all paints subsectors and continue to grow with our powder coating investment. DYO provides employment to 1,500 people in Turkey and serves 13,000 retailers and 300 direct customers through 632 distributors. Throughout our 60-year journey, with our employees, suppliers, customers and distributors who have stood by us for many years, we are one big family. When paint is needed, DYO comes to mind; when innovation is mentioned, DYO comes to mind," he said.

Dr. Mehmet Aktaş, Chief Executive Officer of Yaşar Holding, emphasized the contribution of industrialization and production to national welfare, noting that countries with high prosperity levels today are those with developed industries, and that Turkey needs to produce more and develop its industry in order to grow and increase national income. Highlighting the significant contributions Yaşar Group has made to Turkey's industrialization process, Dr. Mehmet Aktaş stated that growth will continue through further investments in both the paints industry and agricultural industry sectors.

Achieved 20 Percent Growth in 2013

Ahmet Yiğitbaşı, Chair of Yaşar Holding Paints Group, noted that powder coating usage is increasing rapidly globally and in our country due to the advantages it provides. Expressing that as Yaşar Holding Paints Group they produce in nearly every area of paints and believed they should also be present in powder coating, Ahmet Yiğitbaşı said: "We believe that the DYO Powder Coating Factory we have built in the Turgutlu Organized Industrial Zone will quickly reach its targets and will make significant contributions to our Paints Group's turnover, which exceeded TRY 1.1 billion with nearly 20 percent growth in 2013."

Serdar Oran, Vice Chair and General Manager of DYO Boya Factories, in a statement regarding the new investments, said they have a broad customer base including some of Turkey's largest exporters in industrial paints.

Noting that they decided to invest in this high-potential area taking into account powder coating demand from their customers, Serdar Oran said: "Powder coating is used in many branches of industry such as white goods and household appliances, furniture, metal parts, architectural applications, metal goods, automotive parts and machinery. It is a product with high efficiency and recyclability, reusable multiple times, producing less waste, and with more environmentally friendly properties compared to wet paint. In the coming period, our factory will also offer innovative, research and development, and special production products."