Ak-Kim Targets $750 Million Revenue with 10-15% Annual Growth

The chemical sector, a USD 4 trillion global market, is poised for significant growth in Turkey, with Ak-Kim, a subsidiary of Akkök Holding and one of the country's largest chemical players, announcing USD 300 million in investments by 2023 on the occasion of its 40th anniversary. Ahmet Dördüncü, Chairman of the Executive Board of Akkök Holding, said 2017 is an exceptionally important year for both Ak-Kim and the Akkök Group. He stated that by 2023, Akkök Holding aims to close 2 percent of Turkey's current account deficit. Describing how the chemical sector is gaining increasing importance both nationally and internationally, Dördüncü noted: "As Akkök Holding, the chemical sector is one of our main focus areas. The level of development in the chemical sector is directly proportional to countries' development levels. Looking at Turkey, we see that the chemical sector is the third largest exporting sector after automotive and ready-made clothing. However, the chemical sector accounts for USD 25 billion of Turkey's foreign trade deficit. For this reason, our priority in chemicals is to develop value-added, innovative products," he said. Onur Kipri, General Manager of Ak-Kim, stated in his remarks that by 2023, the Republic's centennial year, they want Ak-Kim to become the sector's number one player in specialty chemicals. "By 2023, we want to position Ak-Kim as a company with USD 750 million in revenue. Having sustained healthy organic and inorganic growth over 40 years, Ak-Kim will also capitalize on new company acquisition opportunities. Following Gizem Frit, we acquired Germany's Dinox this year. We aim to strengthen our position further in the markets where we operate," he said.