Deteks Kimya Celebrates 50th Anniversary with Special Evening Event

Deteks Kimya Sanayi A.Ş., a leading organisation in the Turkish chemical industry, celebrated its 50th founding anniversary on 14 December 2016, Wednesday, with a special gala held at the Sheraton Grand Ataşehir Hotel.

Deteks Kimya, which produces over 100 product varieties to world standards annually generating more than 50,000 tonnes of finished and semi-finished products of superior quality across numerous sectors including leather, textiles, construction, oil, paper, water and pharmaceuticals, noted its pride in being among the select companies marking their 50th year in Turkey. Board Chairman Şahit Kanuni stated in his remarks at the ceremony: "The average lifespan of family companies in Turkey is 25 years. Only 30% of these companies transition to the second generation, and 12% to the third generation. The proportion passing to the fourth generation is 3%. The number of companies celebrating their 100th anniversary stands at merely 20. When one looks at these statistical results, it is impossible not to feel excitement. As Deteks Kimya celebrates our 50th year, we will work with all our strength to carry this excitement to the next generations. In celebrating our 50th founding anniversary, we respectfully remember our founders, beginning with my father Müfit Kanuni, most of whom are no longer with us. If today we are able to celebrate our 50th year together with you, it is in large part due to our institutionalisation efforts—which can be summed up in the few sentences above but are in fact far from simple." Deteks Kimya achieved growth of 28% in Euro terms in 2015, with production-based sales growth of 36%. The company completed the first half of 2016 with 19% growth in Euro terms compared to the same period of the previous year, and 36% growth in production-based sales. In the third quarter of 2016, Deteks Kimya realised 12% growth compared to the same period of the previous year, with approximately 30% growth in production-based sales, targeting completion of 2016 with 10% growth. Deteks Kimya's 2015 exports accounted for 19% of its sales as the company continued its growth in overseas markets, reaching 27% in the first half of 2016 and 23% in the third quarter of the year. Exporting primarily to Iran, India and North Macedonia, Deteks Kimya has the African continent among its target markets. Going forward, Deteks Kimya aims to leverage its production experience in Turkey to assess opportunities for collaboration with foreign investors.