Polisan Hellas Invests in Recycling

Polisan Hellas Invests in Recycling Polisan Hellas, the Balkans' sole PET granule producer, marks its 10th year of operations by launching new investments in recycling as part of its goal to write a fresh success story in this sector. Polisan Hellas, which operates among Polisan Holding's overseas investments in the chemicals, paints and coatings, and port management sectors and joined the company in 2013, celebrates its 10th anniversary this year. A press conference was held in Volos, Greece, where the plant is located, to brief journalists on activities completed to date and planned investments for the coming period. At the conference, Polisan Holding Chief Executive Officer Mehmet Hacıkamiloğlu shared information on the sectors in which the holding operates, the companies it owns, and its financial statements. Hacıkamiloğlu stated that chemicals are the core of what makes Polisan, Polisan, noting that they conduct significant research and development work in this field, have foreign partnerships, and operate internationally through the Polisan Hellas plant. Speaking also about activities in port management, real estate and paints and coatings, Hacıkamiloğlu reported that 76.8 percent of 2022 consolidated revenues came from chemicals and 13 percent from port management, with paints and coatings not included in the budget. Hacıkamiloğlu said: "Last year was challenging but successful. The first half of the year saw strong demand, high economic activity, and the exchange rate rose sharply. We achieved approximately TRY 4.2 billion in consolidated revenue, excluding paints and coatings. Our net profit rose 483 percent to TRY 1.6 billion."

Turkey comfortably meets paint production demand

Mehmet Hacıkamiloğlu provided information on paint and coatings activities, noting that following the earthquakes centered in Kahramanmaraş, paint producers, along with construction sector players, were invited to Ankara by the relevant ministry. Describing assessments regarding whether the 35 thousand tons of paint needed for housing that TOKİ would build could be supplied, Hacıkamiloğlu continued: "Turkey consumes 600 thousand tons of paint annually. We can easily meet 35 thousand tons. This is just for the housing TOKİ will build. There is also private sector housing construction. Additionally, there is urban renewal in major cities and migration. For this reason, we believe the construction sector will perform well over the next two years for companies producing construction materials."

We will expand our portfolio with high-value-added new products

Polisan CEO Hacıkamiloğlu noted that they have achieved several firsts in chemicals, which they view as their core business, continue production across a broad portfolio, and conduct significant research and development in the adhesives field. He said they plan to increase production of high-value-added resins in coming periods and expand their portfolio. Stating they are sector leaders with 40 percent of resin production and plan to launch investments in novolac resin this year, Hacıkamiloğlu described additives they produce that reduce emission values of fuel used in diesel engines, reduce energy consumption during cement grinding, and increase concrete strength. Speaking about sustainability work and noting that 60 percent of their 2022 electrical energy consumption came from renewable sources, Hacıkamiloğlu said: "By 2025, we will have transitioned to 100 percent renewable energy. We have set our carbon neutrality target for 2053. This is because our raw materials must also be carbon neutral. That is something not entirely within our control." Addressing the holding's research and development activities, Hacıkamiloğlu noted they have over 100 research and development staff, spent and invested TRY 25 million each in this area last year, and have completely phased out solvent-based paints and coatings in favor of water-based products. Noting that Polisan Hellas, located in Greece and part of the company for 10 years, is the Balkans' sole PET granule producer, Hacıkamiloğlu provided details about the plant.

'We are the Balkans' only PET manufacturing plant'

Polisan Hellas Country Manager Cenk Bitlis noted that the company was founded in 1998 and joined Polisan in 2013, and that the company is Greece and the Balkans' sole polyethylene terephthalate (PET) granule producer and ranks among leading recycled PET (r-PET) granule producers. Bitlis noted the plant is built on 75 decare total, with 15 decare enclosed, and that their annual production capacity reaches 84 thousand tons, of which 5,400 tons comprise preform (PET bottle) production, with r-PET production infrastructure equal to 30 percent of total capacity. Bitlis said: "We can produce over 200 million preforms annually. To maintain our competitiveness, we continuously invest in efficiency and innovation. We are also focused on sustainability." Pointing to the plant's high automation, Bitlis reported the workforce is 75 employees, including laboratory and research and development staff. Noting Polisan Hellas sells 70 percent of its production to Greece and the remainder to other countries in the Balkans and Europe, Bitlis said: "As part of its five-year sustainable profitability-focused strategy, our company completed new preform mold investment in June 2022. Successfully managing actions taken for more active use of EU funds, Polisan Hellas has r-PET at the center of its future planning."

'This year we will invest 4 million euros'

Cenk Bitlis provided information about Europe's plastics and PET sectors, discussing the increased emphasis on recycling in recent years and the European Green Deal. Anticipating global trends and where the sector is headed, noting Polisan Hellas has concentrated efforts in this area, Bitlis recalled that the company began selling recycled PET granules in 2019 and provided the following information: "Expanding the scope of our investments in this area, we moved to r-PET preform production in 2021. As planned, we also launched new investments in this field. We have set an investment of 4 million euros for 2023. We have rolled up our sleeves and will start the investment this quarter. EUR 3 million of this budget comprises r-PET, with the remainder for improvement and general maintenance investments. We are the sole producer in Greece. We supply 70-75 percent of that market. We can deliver goods to the Greek market within a day, while we can respond to inquiries from the Balkans within 48 hours." Bitlis noted they aim to become one of the strategic players in the PET market with these investment efforts, saying: "Because the EU has made r-PET use mandatory at 25 percent by 2025 and 30 percent by 2030. The products we produce open new opportunity doors for Polisan Hellas in this respect."

'We aim to be Europe and the Balkans' most important supplier'

Polisan Hellas Country Manager Bitlis noted 1.8 million tons of PET were used in Europe last year and expected this figure to rise to 2.78 million tons by 2025 and 3.23 million tons by 2029. Reporting that the global recycled PET market, which reached USD 9.4 billion in value the prior year, is expected to grow at an average annual rate of 7.4 percent through 2030, Bitlis discussed strategies they have implemented in line with opportunities in this field. Pointing to new road maps in this area, Bitlis stated: "Our objectives include establishing regional business partnerships in the recycled PET granule field, offering innovative products, increasing revenue share from high-value-added and specialty products, expanding customer portfolio, increasing preform sales, and planning to boost efficiency by monitoring technological developments." Describing their strong customer portfolio that includes companies such as Coca-Cola, Nestle, Alpla and Resilux, Bitlis emphasized they continue their work with the goal of becoming Europe and the Balkans' most important supplier, especially through r-PET and preform-based products. Bitlis emphasized the plant has been recognized with multiple international awards for its stable growth and strategies and practices supporting sustainability. Source