Olmuksan International Paper to invest US$ 20 million for capacity increase

Olmuksan which is among Turkey’s leading corrugated cardboard and box producers will invest US$ 20 million to increase its capacity. Top management of the company has announced they will invest this amount for capacity increase and new machinery and equipment. The management has also shared they are to evaluate prospects of new plant investment due to capacity utilization rate of 90 percent, currently.

Mr. Ergun HEPVAR, the GM of the company shared their plants in Bursa, Dilovasi, Corlu, Adana, Izmir and Çorum had a production capacity of 330,000 tons of corrugated cardboard and 290,000 boxes, annually.

In reply to a question about prospects of investing in a new plant, Mr. HEPVAR replied, “It could be. We do not intend to remain the same in Turkey. That’s why we are looking; organic or inorganic. Feasibility is important for both and we’re looking, analyzing. Our partner’s look at our company is not on short-term. It’s a company that believes in Turkey’s future“. International Paper Container Holdings owns 92.74 percent of Olmuksan shares with remaining 7.26 percent owned by public.

The General Manager also stated that they had ended production at Olmuksan’s paper mill as it had expired its economic age and that they could evaluate a new factory investment in the field of paper production. He added there was no mature decision at the time.