Toyo Ink SC Holdings Co. has signed a share purchase agreement with Yaşar Holding Anonim Şirketi (located in İzmir, Turkey; “Yasar”) to acquire 75% of outstanding shares of the Turkey-based ink company DYO Matbaa Mürekkepleri Sanayi ve Ticaret Anonim Şirketi (“DYO Printing Inks”), a subsidiary of Yasar.
Following the acquisition, DYO Printing Inks will become a consolidated subsidiary of the Company. Headquartered in the Aegean region of Turkey (city of Manisa), DYO Printing Inks is the country’s largest domestic ink manufacturer of gravure inks, flexo inks, offset inks and can coatings, and maintains a solid base in the country. As for operational policies, the company first plans to increase both sales and profitability and expand the product portfolio of DYO Printing Inks’ existing line of inks and coatings based on its technical and global quality standards. In addition, the company will develop new products to meet the needs of the region while enhancing operational efficiency through process improvements.
The Toyo Ink Group aims to build a business base and expand its businesses in MENA (Middle East & North Africa), Central Asia, and in Eastern Europe, as well as strengthen its activities in the European region, for Europe is at the forefront of environmental technology and regulatory governance for industry, such as the food industry. As part of its growth strategy, the Company has been focusing on Turkey as a platform for building a business hub and established a liaison office in 2014 and a sales company in January 2015 while moving forward with marketing efforts in the country. Under such a business environment, the Company concluded that local production is essential to establishing an operating foothold in the area, resulting in the decision to acquire a local company. In the mid- to long-term, Toyo Ink Group intends to diversify its operations in Turkey by manufacturing and selling a wide range of Group products together with existing ones at DYO Printing Inks, thus enabling the Company to develop in a single location a strong brand that uses the comprehensive strengths of the Toyo Ink Group.