Gizemfrit bought Spanish Megacolor, aims for top three in ceramics

Gizemfrit, the world's second largest enamel coating manufacturer within the Akkök Group of Companies, has incorporated with Megacolor, a company that produces inkjet ink for the ceramics industry in Spain. With the momentum of Megacolor, Gizemfrit will increase its turnover by 100 percent over the next five years to 170 million dollars.

Leader in the enamel and ceramic frit market, used in the coating of many products in our daily lives, such as white goods, kitchen utensils, ceramics, aluminum and glass, Gizemfrit has purchased the Megacolor company, which provides service to the ceramics industry in Spain. With this investment, Gizemfrit will begin inkjet ink and pigment production for the ceramic industry.

“Will help close the current account deficit”

Akkök Holding Executive Committee Chairman Ahmet Cemal Dördüncü, who spoke at the press conference held on the subject, stated that Gizemfrit, which joined the Akkök Group of Companies in 2015, has achieved a rapid growth momentum. As Akkök Holding, Dördüncü emphasized that they aim to close 2 percent of the foreign trade deficit arising from the chemical sector. He continued as follows: “While seeking organic and inorganic growth opportunities in this direction; we are trying to develop innovative products that create added value. Our company, along with Megacolor, has become an international player in the ceramic frit and ink sector and plays an important role in closing the current account deficit. With this investment, Gizemfrit's turnover will increase 85 million dollars in 5 years. In 2022 we aim to increase Gizemfrit's turnover by 100 percent to reach 170 million dollars."

"The R & D infrastructure has become stronger"

Raif Ali Dinçkök, Vice Chairman of the Executive Board of Akkök Holding, stated that Gizemfrit exports the coating materials and coloring pigments produced in Sakarya to 60 countries in 6 continents.

Stating that, in addition to Gizemfrit being the leading company in the Turkey enamel and ceramic frit market, it is the second largest company in the world enamel frit market, Dinçkök said, “Behind this success

lays a strong R&D infrastructure. With Megacolor this infrastructure will become even stronger. The coatings produced by Gizemfrit will also be seen in the defense industry and aviation sectors in the future. But for now, our priority is to bring Gizemfrit to the top of the wold in the ceramic coating industry, together with Megacolor.”

“The US, China and Brazil are next”

Gizemfrit General Manager Veysi Küçük stated that, with Megacolor they aim to become the third biggest player in the world ceramics sector in the medium term, to compete with the important ceramic frit and ink makers in the world. Küçük, continued his words with:

"Our goal is to be a world leader company that will drive the performance coating industry with innovative products by operating in five continents over the next 10 years. This step we have taken in line with this goal is very valuable to us. We plan to invest in the US and China in the upcoming period. Currently, our feasibility studies are continuing. We are looking into Brazil too, but we are waiting for the economic problems there to be resolved."

Will prevent 25 million Euro of import a year

General Manager Küçük, emphasizing that this purchase will have a significant contribution to the country economy, exports, technology and employment, said “The ceramics industry in Turkey invest all their inks today. There is an import of approximately 25 million Euro being made annually. This purchase will prevent this import. In addition to this, by carrying out transfer of pigment technology to Turkey with Megacolor, we will produce high quality pigments. We will sell both domestically and abroad with the Megacolor brand. We will also increase the production capacity of Megacolor 3 fold.”