Toyo Ink SC Holdings Co., Ltd., the parent company of the Toyo Ink Group of companies, announced that its subsidiary company Toyo Printing Inks Inc., a manufacturer of inks and coatings in Turkey, has decided to purchase approximately 62,000 square meters of land for the future expansion of its operations in the Manisa Province in western Turkey. The new plot is located in the Manisa Industrial Zone, the same industrial park that is currently home to Toyo Printing Inks.
 
Toyo Printing Inks plans to use the land to build not only a new manufacturing facility for the upgrading and expansion of existing R&D and production facilities, but also to construct a new production site for polymers, a key material component in Group products, such as inks, coatings and adhesives.
 
The polymers manufactured in Manisa will be used to improve the quality and performance of Toyo Printing Inks’ products, and to diversify its portfolio and markets. Construction of the new polymer plant is expected to begin in 2018 and be completed by late 2019, followed by further capacity increases to ink and coating production within three to five years. With the increased capacity, annual sales is estimated to reach 300 million Turkish lira ($77 million) by 2022.
 
“Toyo Printing Inks has simply outgrown its current space,” said Katsumi Kitagawa, CEO of the Toyo Ink Group. “We’ve reached the point where we need to invest in advanced manufacturing technology that will allow us to better serve our customers with greater flexibility and product mix capability. The proposed expansion is expected to take a total investment of 3 billion yen (approximately $26.7 million) and will be carried out in phases over a period of five years.”