Polisan Kimya Targets 30% Growth With New Factory

Polisan Kimya Targets 30% Capacity Increase With New Plant Polisan Chief Executive Officer Mehmet Hacıkamiloğlu announced that the company recorded strong financial results in the first half of 2021. According to Hacıkamiloğlu's statement, Polisan Holding sustained high revenue growth and operational profitability through the second quarter of 2021, increasing consolidated revenues in the first half of the year to TRY 786 million, a 69% increase compared to the same period last year. EBITDA margin rose 2.9 points to 17.9%, while net profit climbed 162% to TRY 80 million. The group's combined revenues reached TRY 1.57 billion. Combined revenues comprised 47.3% from paints and coatings, 42.3% from chemicals, 8.1% from port operations, and 2.3% from other activities. Hacıkamiloğlu also provided information on Polisan Holding's new period planning and targets, noting that a 30% increase in resin production is projected following the opening of a new plant on the chemicals side, liquid cargo storage capacity at port affiliate Poliport will be increased to 436,000 cubic metres, and storage and port services will soon be provided to the steel and automotive sectors. Stating that work continues as planned at Polisan Kansai Paints, which ranks among the world's largest with a production capacity of 540,000 tonnes, Hacıkamiloğlu described the brand as environment, people and sustainability-focused. Hacıkamiloğlu noted that 90% of paints work consists of products with high sustainability contribution and 10% comprises products supporting sustainability. Mehmet Hacıkamiloğlu, Chief Executive Officer of Polisan Holding, which stands out with its affiliates in paints and coatings, chemicals, port operations and real estate sectors and has pioneered firsts in Turkey since 1956, explained the company's first-half 2021 financial results, investment plans and latest developments in sustainability policies. Pointing out that Turkish industry demonstrated great capability in managing the process despite raw material shortages, sharp currency fluctuations and pandemic-induced challenges, Polisan Holding CEO Hacıkamiloğlu provided information on new period investment plans. Noting that Polisan Kimya began production of the first emulsion resins and formaldehyde resins in Turkey in 1964 while the chemicals sector was entirely dependent on imports, Hacıkamiloğlu stated: "We are Turkey's most important producer of plywood, MDF, hardboard, melamine, formaldehyde resins based on glass wool, stone wool, melamine, urea and phenol, with a market share of 40%. Investments in this highly important product group continue. We laid the foundation for our new resin plant in March 2021 and the investment will be commissioned in April 2022. When this is realised, particularly in the resin group our capacity of 150,000 tonnes per year will increase by 30%," he said. Noting that Polisan Kimya also stands out in the construction chemicals group and ranks among the top three producers, Hacıkamiloğlu emphasised that Polisan was also Turkey's first producer of AdBlue used in diesel vehicles. Source