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Out Growıng Leads To Investments

2018-07-19 13:51:52


Out Growıng Leads To Investments

Toyo Ink SC Holdings Co., Ltd., the parent company of the ToyoInk Group of companies, announced that its subsidiary company Toyo Printing Inks Inc. (Toyo Ink Turkey), a manufacturer of inks and coatings in Turkey, has decided to purchase approximately 62,000 square metres of land for the future expansion of its operations in the Manisa Province in western Turkey. The new plot is located in the Manisa Industrial Zone, the same industrial park that is currently home to Toyo Printing Inks.

Toyo Printing Inks plans to use the land to build not only a new manufacturing facility for the upgrading and expansion of existing R&D and production facilities, but also to construct a new production site for polymers, a key material component in Group products, such as inks, coatings and adhesives. The polymers manufactured in Manisa will be used to improve the quality and performance of Toyo

Printing Inks‘ products, and to diversify its portfolio and markets. Construction of the new polymer plant is expected to begin in 2018 and be completed by late 2019, followed by further capacity increases to ink and coating production within three to five years. With the increased capacity, annual sales is estimated to reach 300 million Turkish lira by 2022.

“Toyo Printing Inks has simply outgrown its current space,” says Katsumi Kitagawa, CEO of the Toyo Ink Group. “We‘ve reached the point where we need to invest in advanced manufacturing technology that will allow us to better serve our customers with greater flexibility and product mix capability. The proposed expansion is expected to take a total investment of around EUR 22.8 million) and will be carried out

in phases over a period of five years. This investment reaffirms our commitment to providing long-term solutions tailored to the needs of the printing and packaging industries in Turkey and rapidly growing markets in the MENA region, with Manisa serving as the supply hub.” Driven by the anticipation of strong demand in MENA, Central Asia and Eastern Europe, Toyo Ink SC Holdings has steadily been increasing its operating foothold in Turkey as part of its growth strategy to expand its businesses throughout the region. The company established a liaison office in Istanbul in 2014, a sales company in the city one year later, and purchased Toyo Printing Inks (then DYO Printing Inks) in 2016, marking the start of its manufacturing operation in the country. Looking ahead, the Toyo Ink Group will continue to focus on building on its strong local presence and expanding its product offerings to meet regional demand. “Toyo Ink Turkey (Toyo Printing Inks) will be a production and distribution base for not only the MENA region, but also cover CIS, Baltic Countries, East Europe, Middle-East, Africa and West Asia. After all, we, as the Toyo Ink Group, already carry out production and sales activities in these regions with Toyo Ink Europe. Now, we will be supporting these markets with product range produced in Turkey,“ said Yakup Benli, CEO of Toyo Ink Turkey. CIS Countries are already a huge market, the Middle East and Africa Region are developing markets where the demand for quality products is increasing steadily, Benli added. „Consequently, these regions are high potential areas for companies providing good quality products and services,“ said Benli.

You are investing in the business in Turkey. Could you please describe the market for printing inks in Turkey? In general, the printing and coatings market in Turkey demonstrates a progress close to European market trends. Additionally, due to the rapid growth of the domestic market and the increase in packed products usage quantity in the surrounding countries, it displays higher growth ratio compared to many regions of the world. Turkish market, the labelling and packaging sectors are the fastest growing industries (mainly flexo and rotogravure inks), while the publishing (printing - information) sector is shrinking. Besides that, over the last couple of years this shrinkage has occurred faster than European level.

How would you describe the competitive situation in the Turkish market for printing inks? Not only small local producers but also global players are active in the Turkish market. Rapid technological investments continue to flow into the Turkish printing/publishing market while the diversification of packaging requirements increase the need for innovative products. Companies that realized this gap early on and invested accordingly will have the advantage. Toyo Ink Turkey is in a good state to meet the current and future demands of the Turkish market. Our Manisa facility is home to Turkey’s first and only Research & Development center for inks and coatings, which is accredited by the Turkish Science, Industry and Technology Ministry. Having utilized the knowledge accumulated by the Toyo Ink Group, we focus on the other needs that might arise apart from sector’s regular demands and continue our work to develop new products.