Dünya – Toyo Ink Group, a Japanese maker of printing inks, packaging materials, coating and polymers, has finalized a deal to acquire 75 percent of the shares of Turkish company DYO Printing Inks from its parent company, Yaşar Holding.
Established in 1968, DYO Printing Inks is a manufacturer of gravure inks, flexo inks, offset inks, can coatings and ink-related products. It is currently the country’s market leader, with a share of 40 percent.
One of the top-three ink producers in the world, Toyo Ink plans to expand in the Turkish market with the acquisition and has set its sights on surrounding markets in the Middle East & North Africa region, Central Asia and Eastern Europe, according to a press release. The Japanese group first set up an office in Turkey in 2014.
Headquartered in Manisa in Turkey’s Aegean region, the company will conduct business as a subsidiary of the Toyo Ink Group with Yaşar Holding retaining the remaining 25 percent of shares.
Speaking at the signature ceremony, Katsumi Kitagawa CEO at Toyo Ink Group said that the deal was part of a global expansion drive to increase their presence in emerging markets.
“Our production operations in Turkey are crucial to the Toyo brand’s success in the region,” he noted.