Akkök Holding to Acquire Epsilon Kompozit

Industrial conglomerate Akkök Holding has signed a purchase agreement for a 51% stake in Epsilon Kompozit, which manufactures components for global companies, and has applied to the Competition Authority. Akkök Holding Executive Board Chairman Ahmet Dördüncü stated that with Epsilon Kompozit, which manufactures and exports composite parts to various heavy industrial sectors, particularly aerospace, they aim for international leadership in the sector. Akkök Holding, which operates in chemicals, energy, services, textiles and real estate, is making a significant investment in composites, which is seen as the technology of the future. The company has signed a purchase agreement for Epsilon Kompozit, which operates in Ankara, and has applied to the Competition Authority. Following approval by the Competition Authority, 51% of Epsilon's shares will be held by Akkök Holding and its parent companies ARD Holding A.Ş. and NDÇ Holding A.Ş. [caption id="attachment_126183" align="aligncenter"] Ahmet Dördüncü[/caption] Founded in 2011, Epsilon Kompozit manufactures and assembles high-tech composite components and parts for various sectors, particularly aerospace. The company serves international business partners such as Airbus, Bell and KAI, and also manufactures for domestic defence industry companies. The company produces products with very high export value per kilogram, with 95% of total sales achieved through exports.

"Composite import dependence will decline"

Akkök Holding Executive Board Chairman Ahmet Dördüncü, noting that the heavy industrial sectors served by Epsilon hold strategic importance for Turkey, stated: "High value-added composite exports will reduce our country's imports and dependence on foreign sources in this important field. As Akkök Holding, in implementing our investment, we took into account Epsilon's exporter identity that I mentioned. We believe that such a valued manufacturer with global customers will create synergy with our portfolio. In line with our future objectives, we have focused on long-term investments that will contribute to our sustainable and healthy growth. Through such investments that are aligned with and complementary to our strategies, we will continue to strengthen exports and employment for Turkey".  

"We aim for international leadership"

Stating that they plan to make composites one of their main business lines with the new investment, Dördüncü noted that Epsilon will gain advantages by expanding collaboration with group companies, particularly DowAksa, an Akkök Holding subsidiary that provides carbon fiber composite solutions to industrial sectors. Dördüncü said: "We will transfer our nearly 70 years of industrial experience to Epsilon and make the necessary organic and inorganic investments. We aim for leadership in international competition in the developing composite field with Epsilon".   Akkök Holding and group companies began 2021 with acquisition investments. Akkim, a subsidiary of the holding, had incorporated USK Kimya, Turkey's largest carboxymethyl cellulose producer, for USD 63 million.