Bugun - The Ravago Group of Belgium, one of the oldest plastic producers in Europe, has announced plans to make Turkey its production base. Scheduling investments to cut Turkey’s dependency on imports of premium grade plastics, the firm is aiming to grow by 30 percent this year and expects to reach a turnover of EUR 1 billion within four years.
Active in plastics production since 2001, Ravago’s operations in Turkey reached EUR 400 million in 2010. Pointing out to the growing demand for petrochemical products in Turkey’s various industries, Ravago Turkey CEO Mehmet Onur said that they will invest EUR 32 million to turn the country into a production base. “Enplast, one of our divisions, will receive EUR 16 million of investments for the production of premium grade plastics, which in turn will find a large variety of use in almost 20 sectors including textiles, automotive, agriculture and chemicals,” he added.