OYAK has announced a strategic investment in China for its subsidiary, Almatis, a global leader in specialised alumina products and solutions. This investment aims to bolster Almatis' capabilities by increasing its calcined alumina production capacity from 50,000 to 100,000 tonnes.
The expansion is poised to fuel growth in vital markets like semiconductor structural components, consumer electronics, thermal control devices, and electric vehicles. Construction of the new facility, spanning 6,600 square meters, is scheduled to commence in the final quarter of 2024.
On September 1, 2015, Dubai International Capital (DIC), the private equity arm of Dubai Holding, announced that it had completed the sale of Almatis, the world's leading supplier of premium alumina for the refractory, ceramic and polishing industries to OYAK, Turkey's largest private pension fund.
The new facility is slated to commence operations in early 2026. Upon the launch of its new calcined product line, Almatis will bolster its production capacity in China to 100,000 tonnes, thus broadening its product range. With this expansion, the company targets exporting around 20,000 tonnes of its production to neighbouring countries in the region.
OYAK General Manager Süleyman Savaş Erdem highlighted the importance of the investment by saying, "Our capacity to grow with our new investment in China, one of the world's largest markets, will enable us to expand our global network."
"We will strengthen OYAK's power by utilising Almatis' regional potential."
Erdem said that Almatis is a global brand and built its supply strategy based on this structure: "Increasing the production capacity in China is strategically important for Almatis to grow in regional markets. At the same time, we aimed to prevent any problems in the supply chain by providing raw materials from local sources."
"We have taken all measures to respond to demand in a timely and adequate manner and to run an efficient and profitable operation," he said
Source: https://www.alcircle.com/news/oyak-s-investment-propels-almatis-to-expand-production-in-china-110728
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