Toyo Ink has signed a share purchase agreement with Yaşar Holding Anonim Şirketi to acquire 75% of outstanding shares of the Turkey-based ink company DYO Printing Inks, a subsidiary of Yasar.
The Toyo Ink Group is focusing its efforts on expanding inks and coatings for the packaging market, including materials for food packages that are essential to everyday living. The company has aggressively been accelerating global expansion through activities to expand its sales and profits in China and Southeast Asia, and by setting up new manufacturing plants in developing countries such as India and Brazil.
As a critical next step toward growth, Toyo has made it a priority task to build a business base and expand its businesses in the Middle East and North Africa, Central Asia and in Eastern Europe, as well as strengthen its activities in the European region. As part of its growth strategy, Toyo has been focusing on Turkey as a platform for building a business hub and established a liaison office in 2014 and a sales company in January 2015 while moving forward with marketing efforts in the country.
Following the acquisition, DYO Printing Inks will become a consolidated subsidiary of Toyo. Headquartered in the Aegean region of Turkey (city of Manisa), DYO Printing Inks is the country’s largest domestic ink manufacturer of gravure inks, flexo inks, offset inks and can coatings, and maintains a solid base in the country.
