Akkök Holding to Continue Investments in the New Year

Ahmet Dördüncü, Chairman of the Executive Board of Akkök Holding, stated that he expects Akkök Holding, which operates in chemistry, real estate and energy, to make significant domestic and international investments and acquisitions in 2022 as well: "DowAksa is preparing to commission new production lines that will increase production capacity. Aksa Akrilik is also commissioning a new yarn facility worth USD 27.5 million under the Aksafil brand. Akkim may also make a new acquisition in Europe in 2022." he said.

ISTANBUL (AA) BELGİN YAKIŞAN MUTLU

Dördüncü explained that 2021 was a year in which the effects of the pandemic continued worldwide, stating that they worked at a very intensive pace because they produced disinfectant raw materials in the chemical sector, and this situation accelerated their performance. Dördüncü expressed that they made significant investments in the chemical sector this year, continuing his remarks as follows: "Similarly, the 2021 results of our energy companies were satisfactory. On the other hand, due to the difficulties the retail sector experienced due to the pandemic, we went through a challenging year in the real estate sector where we have shopping mall investments." he continued. Dördüncü, noting that he expects Akkök Holding to make significant domestic and international investments and acquisitions in 2022, stated the following: "In line with our future targets, we focused on long-term investments that would contribute to our sustainable and healthy growth. We will continue to strengthen Turkey's position in areas such as exports and employment through investments that are consistent with and complementary to our strategy. Our acquisition investments will continue in the future. DowAksa, one of the world's leading carbon fiber manufacturers, is preparing to commission new production lines that will increase production capacity. Our affiliate Aksa Akrilik, the world leader and Turkey's only acrylic fiber manufacturer, is commissioning a new yarn facility worth USD 27.5 million under the Aksafil brand. Akkim may also have a new acquisition in Europe on the agenda in 2022. In summary, as a group, we planned investments totaling close to USD 300 million by year-end." Dördüncü emphasized that they envisaged increasing their workforce by 15 percent in line with their strategy of continuing investments, stating: "As a result of these investments, with the contribution of the companies we added to our organization, we aim to increase our total production capacity by 16.8 percent in 2022."

Strong Investments Made in 2021

Ahmet Dördüncü noted that Akkök Holding has made significant investments for Turkey for 70 years, and in line with this, implemented strong investments in 2021. Recalling that Akkim Kimya took an important step in line with its inorganic growth strategies by adding USK Kimya, one of the world's leading carboxymethyl cellulose manufacturers, to its portfolio, Dördüncü stated that with this USD 63 million investment, Akkim significantly increased its annual exports and turnover. Dördüncü pointed out that 51 percent of the shares of Epsilon Kompozit, which manufactures and exports high value-added composites, was purchased by Akkök Holding and its main partners this year, stating the following: "Epsilon manufactures and assembles high-tech composite components and parts for various sectors, particularly aerospace and defense. It serves international business partners such as Airbus, Bell and KAI, as well as domestic defense companies. Epsilon's composite exports will also reduce Turkey's important imports in this field and its external dependence. We believe that this partnership will expand cooperation with our group companies, particularly DowAksa, which provides carbon fiber composite solutions to industrial sectors, and will bring us significant advantages. Among our goals is to rise to leadership in international competition in the composite field with Epsilon, which has global customers. Speaking about our approach to going public as a holding, Dördüncü said: "The stock exchange is not a distant area for us. Currently, Akkök Holding has 4 publicly traded affiliates. Of course, timing is very important on the stock exchange. While we don't have active plans for now, we would be receptive to making a new move when the right time and conditions are created." he said.

4 to 5 Percent Growth Targeted for 2022

Akkök Holding Chairman Dördüncü stated that he expects Turkey's economy to return to pre-pandemic growth rates in 2022, expressing the following views: "My growth estimate for the end of 2022 is between 4 and 5 percent. Looking at the risk map for the coming period; I can say that with the green agreement signed with the European Union in recent months and due to measures to be taken regarding climate change in industry, we need to be prepared for a serious and challenging transformation process on the industrial side. Moreover, in addition to rising raw material prices and logistics costs, exchange rate fluctuations are also among the significant risks that will emerge next year. However, for companies with sound balance sheets, it is possible to anticipate that such risks will create new opportunities. As Akkök Holding, we will continue to create value for Turkey's economy by maintaining our effectiveness through investments in both national and international markets."