HEKTAŞ to Set Up Production Facility in Uzbekistan

HEKTAŞ, a company with significant experience in Turkey's agriculture sector, is preparing to establish a production facility in Uzbekistan for plant nutrition and crop protection as part of its foreign investment plans. HEKTAŞ, which has made major contributions to Turkey's agriculture industry and has investments abroad, has begun work to establish a production facility in Uzbekistan that will serve the plant nutrition and crop protection sectors. Following the future vision and sustainable growth strategy outlined by OYAK General Manager Süleyman Savaş Erdem, the company is seizing opportunities, expanding into foreign markets and increasing export and production volumes. Taking into account the needs in Uzbekistan and surrounding countries, potential pricing and cost structure, the company aims for the new facility investment to generate high profitability.

We grow through investment and production

OYAK General Manager Süleyman Savaş Erdem stated that in their core strategic plan established in 2017, they have adopted growth not through sales, but through acquisition, investment, and by leveraging research and development and innovation opportunities and increasing production. Erdem made the following remarks regarding the strategic importance of the Uzbekistan investment: "In the sectors where we operate today, we are either leaders or among the largest players in the sector. Over the past 6 years, we have expanded our portfolio in the agriculture, food and livestock ecosystem by capitalizing on inorganic and organic growth opportunities. Through our investments in strategic areas such as plant nutrition, animal health and seeds, we have scaled up HEKTAŞ, one of our Group Companies that previously operated only in the crop protection sector, making it a global company. With our Uzbekistan investment, we will create value for both the sector and the country. With this investment, we are targeting the markets of all Turkic States, particularly Uzbekistan. As OYAK, Turkey's most successful supplementary occupational pension fund, we will continue to work for the welfare of our country and our members through this and similar investments, while continuing to rapidly increase our competitive strength on an international scale and expand our global reach in line with our profitability and sustainable growth objectives."

We are significantly increasing our production capacity

OYAK Food, Agriculture and Livestock Sector Group Chairman Levent Ortakçıer stated that HEKTAŞ is a company that creates value from producer to consumer, creating value for the economy, and continued as follows: "Over the past 6 years, the company has entered new areas such as organomineral-based plant nutrition, seeds, animal health and pet food. In doing so, it has continuously developed its existing product and customer portfolios. In the coming period, we will especially expand into foreign markets and significantly increase our export and production volumes. We believe that HEKTAŞ, which has grown from a market value of 70 million dollars to approximately 2 billion dollars today, will continue its steady growth and will significantly strengthen its export capacity with this investment. In line with this, we are beginning our investment in Uzbekistan with a capacity of 30,000 tonnes of crop protection and 150,000 tonnes of plant nutrition (organomineral fertilizer). With this investment, we will increase our existing crop protection capacity by 47 percent, our plant nutrition capacity by 152 percent, and our total capacity by 111 percent."