12/16/2009

Turkey eyeing USD 1 billion in boron exports by 2013

 

Today’s Zaman - Eti Maden, Turkey’s state-owned boron producer, aims to expand Turkey’s share in the world boron market from 36 percent to 39 percent by 2013, increasing sales to USD 1 billion, according to the company’s strategic plan for the 2009-2013 period. 

 

Boron exports from Turkey, which possesses more than 70 percent of the world’s boron reserves, plunged this year due to the global financial crisis, which resulted in a contraction in most boron-consuming countries such as the US, European Union countries, Japan and Russia. Turkey’s boron exports amounted to USD 395.5 million this year as of the end of November, and by the end of the year, this figure is expected to reach some USD 420 million, while total exports totaled USD 488 million in 2008. The amount of boron exported this year also fell compared to last year. It amounted to 927,000 mt as of the end of last month, while it was 1.4 million mt for 2008.

 

According to the company’s strategic plan for the 2009-2013 period, which was approved by the State Planning Organization (DPT), the company is planning to make USD 600 million in profits in 2013 by achieving USD 1 billion in boron sales. As a result of a drop in demand, total sales, including sales to the domestic market, totaled around USD 540 million last year, a figure which is expected to decline to some USD 445-500 million by the end of the year. However, the plan foresees total sales climbing to some USD 1 billion by 2013, as Eti Maden plans to expand its production facilities and product range on the back of an anticipated recovery from the economic slowdown around the world.

ENGLISH