Toyo makes production investment in Turkey

Toyo Printing Inks has purchased a 62,000 sqm plot of land for the future expansion of its operations in the Manisa Province in western Turkey.

Toyo makes production investment in Turkey

Toyo Printing Inks plans to use the land to build a new manufacturing facility to upgrade and expand existing R&D and production facilities, and 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.

The new plot is located in the Manisa Industrial Zone, the same industrial park that is currently home to Toyo Printing Inks. 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 are estimated to reach 300 million TRY (77.2 million USD) by 2022.

Katsumi Kitagawa, Toyo Ink Group CEO, explained: ‘Toyo Printing Inks has simply outgrown its current space. 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 three billion JPY (approximately 26.7 million USD) 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.’

Toyo Printing Inks is a subsidiary of Toyo Ink Group, which itself if owned by Toyo Ink SC Holdings. 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 DYO Printing Inks, now Toyo Printing Inks, in 2016, marking the start of its manufacturing operations in the country. Looking ahead, Toyo Ink Group has stated plans to continue to focus on building its local presence and expanding its product offerings to meet regional demand.