Belgian Ravago Invests $3.5 Million in R&D Center in Turkey

Belgium-based petrochemicals company Ravago continues its investments in Turkey, which it has selected as its production hub for the region. The R&D center, which will export know-how worldwide, holds strategic importance among the Group's 30 facilities. The center will develop qualified and innovative raw materials for many industries from automotive to textiles. Ravago Group, the world's leading service provider in plastics, rubber and chemical substances, opened its R&D center built with a USD 3.5 million investment on a 4,000 square-meter plot within the Kocaeli Organized Industrial Zone. Belgium-based Ravago Group, with more than 200 offices in 50 different countries, has a sales volume of 4.5 million tons. Ravago Turkey, the second-largest petrochemical producer in Turkey, accounts for more than 10% of this volume.

"It Will Operate as an Innovation Hub for Technology Leader Countries Like the United States, China and Russia"

Speaking at the center's opening and providing information about the work, Ravago Petrochemicals R&D General Manager Leonardo Bellomo said: "Our R&D center, which will operate as an innovation hub for technology leader countries like the United States, China and Russia and brings together many sub-branches in the petrochemicals sector, achieves a first with this feature. More than 30 experts will work at the center. Our core team consists of 20 Turkish engineers. Thanks to the work of our 20 Turkish engineers, we will export our knowledge and experience worldwide. Since beginning operations in June, our center has produced 5 different projects in a 5-month period. Two of these projects were accepted by TUBITAK, while discussions continue on the other 3 projects."

"We Target USD 1.2 Billion in Revenue With 18% Growth"

Mehmet Turhan Onur, Chairman of the Board of Ravago Turkey and Middle East, explaining the Group's and Ravago Turkey's new investment efforts and targets, spoke as follows: "As Ravago Turkey, we are closing this year with USD 1 billion in revenue. Next year we target USD 1.2 billion in revenue with 18% growth across production and exports. The biggest reason behind Ravago Turkey's success and growth is that since its establishment, it has used all its earnings for new investments. Ravago Turkey currently has 3 production facilities on a 169,000 square-meter factory area with a production capacity of 280,000 tons. In 2018, we will increase capacity in EPS, stone wool and engineered plastics. In the coming period, for RPU capacity increase and modernization, we are completing a fully automated production facility with a EUR 38 million investment in the Izmir Aliağa Region that will serve an area of 75,000 m2. We have completed Europe's 2nd ceramic wool investment. In 2018, with our high-performance fiberglass investment, we will bring another first to life for Turkish industry and leading sectors." Emphasizing that Ravago exists as an important raw material supplier for Turkish industry for the development of production and the growth of the Turkish economy, Onur also stated that they have started the Industry 4.0 process with their new investments.