Toyo Ink Group Acquires Shares of DYO Printing Inks

Toyo Ink SC Holdings Co., Ltd. has signed a share purchase agreement with Yasar Holding Anonim Sirketi, located in Izmir, Turkey, to acquire 75% of outstanding shares of the Turkey-based ink company DYO Matbaa Mürekkepleri Sanayi ve Ticaret Anonim Sirketi (DYO Printing Inks), a subsidiary of Yasar.

The Toyo Ink Group is focusing its efforts on expanding inks and coatings for the packaging market, including materials for food packages that are essential to everyday living. The company has aggressively been accelerating global expansion through activities to expand its sales and profits in China and Southeast Asia and by setting up new manufacturing plants in developing countries such as India and Brazil.

As a critical next step toward growth, the Toyo Ink Group has made it a priority task 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.

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.

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.

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.

Toyo Ink plans to increase both sales and profitability and expand the product portfolio of DYO Printing Inks’ existing line of inks and coatings.
 
With the aim of achieving top market share and brand recognition in Turkey and its neighboring countries, Toyo Ink then plans to accelerate sales by strengthening its sales network in the priority areas of MENA, Central Asia and Eastern Europe.

DYO Printing Inks reported sales of $43 million (126,774,000 TL) in 2014, and operating profit of $367,000 (1,094,000 TL). Its 2013 sales were 108,032,000 TL, or $36 million.