New Entity to Provide Expanded Presence in Turkish Market for Global Agro-Industrial Group
LUXEMBOURG, ISTANBUL, IZMIR, December 20, 2018 – Yakamoz Yag Sanayi ve Ticaret Anonim Sirketi, a legal entity of Sodrugestvo Group, has closed on a purchase of the production assets with Altinyag Kombinalari Anonim Sirketi, the owners of the strategically positioned multi-seeds crushing plant in Izmir, Turkey. The new entity, will allow Sodrugestvo to considerably improve service to its customers in Turkey and MENA.
“Turkey is a quickly growing soybean market and an important region for Sodrugestvo.Group. Yakamoz, controlling a strategically placed multi-seed crush plant and oil refinery, is well positioned in the strategic area of Turkey, which is naturally suiting our supply chain,” said Aleksandr Lutsenko, CEO of Sodrugestvo. “As we continue to look for new strategic growth opportunities – both geographically and in terms of our product and service offerings – it is fitting to our efforts to improve our service to customers in this one of the most dynamic markets in Mediterranean and MENA Region.”
In the next three years of operation Sodrugestvo will focus on reconstruction of the plant, renovation of its equipment, improvements in key processes to reach high international standards and to increase the output as well as the quality of its products. The main objective of Yakamoz is to produce more than 200,000 metric tons of high quality meals and oils annually and to ensure a high quality of service to its customers, the most important of which will be the trading company of Sodrugestvo Group in the country – Sodrugestvo Turkey - and the other leading international players in the industry.
“Three years ago we decided to develop our business in Turkey both in distribution of soybeans and other commodities, and in production, which we started with toll-crush contracts in a few provinces of Turkey,” continued Mr. Lutsenko. “After we worked with Altinyag two seasons we became confident that we should make the next step and become the owners of the plant in order to secure our leading position in the industry. We see a good potential for Sodrugestvo Group to bring innovative technologies into the plant and to combine them with a strong local expertise.”
Mr. Ersin Esen, Head of Mediterranean and MENA Region of Sodrugestvo Group, supports: “The opportunity to work as a part of the international team will be very useful for Yakamoz employees and for the local community. Turkey will benefit from additional taxes, and employees will have an opportunity for professional growth. For us it will be challenging, but interesting times”. Yakamoz with its headquarters in Izmir, Turkey, will operate and enlarge the plant consisting of the two crushing lines, the oil refinery and the industrial infrastructure in Izmir area.
About Sodrugestvo Group
Sodrugestvo Group (www.sodrugestvo.com), founded in 1994, is a rapidly growing agro-industrial company serving global markets. The company is vertically integrated with four business units: production of proteins and oils, trading of agricultural commodities, specialized infrastructure (including river and deep-water sea ports) and logistics (including railcars and storage facilities). In its last fiscal year Sodrugestvo reached consolidated sales of more than $2.6 billion and crushed over 3 million tons of soybeans and rapeseed, making it a leading player in Northern, Central, Eastern Europe and in Turkey. The company is also expanding into commodities trading, direct origination capabilities, logistics and ports in South America. Headquartered in Luxembourg, the company has more than 30 facilities located in some 20 countries including Belorussia, Brazil, Paraguay, Russia, Serbia, Turkey, Ukraine and several Eastern European nations. Sodrugestvo employs more than 2500 employees worldwide.