Turkey's Star Boydak Holding
After the global economic crisis, the year 2010 was seen throughout the world as the year of recovery. The expected recovery had two distinct forms as felt amongst the developed and the developing countries. While the recovery of the developed countries did not meet expectations, the economy of developing countries became the driving force of recovery in the global economy by catching up to growth rates quickly.
Turkey was one of the most spoken countries in terms of socio – economic developments in 2010. While the credibility of countries in 2010 was interrogated, our country made a big splash with sustainable growth. During a time of changing global balance, Turkey gained a prominent position as a regional economic power by maintaining a distinct status from those whom it had been compared with previously.
We, as Boydak Holding, have also been immersed in these important trials in every sense. We are proud to be able to say that we have put those trials behind us with success. One of our endeavors was attaining the “Perfection Model” award within EFQM (European Forum for Quality Management), a model to push corporations towards perfection independent of their structure or development. Istikbal furniture earned a special place as Europe’s first and only furniture company with “5 Stars in Perfection” competency certificate.
This is the first international quality certificate we’ve been awarded as the direct result of our total work philosophy committed to efficient energy use and work systems focused on quality, efficiency, customer experience, dedication to the community and the environment, and our employee’s needs. All our valuable employees, stakeholders, dealers and suppliers who carry through with this spirit strengthen our belief in a better future.
2010 was a year full of investments and 2011 will continue on the same line.
The investments realized through 2010 were not just domestic, but reflected overseas growth as well. Bellona and Istikbal brand products are sold at 5000 sale points in more than 100 countries worldwide. We shall continue expanding in domestic and global market in the furniture and textile sectors throughout 2011.
Being amongst the top 5 biggest furniture production companies in the world places an important responsibility on our shoulders. We finalized 2010 with 4.1 billion TL turnover and with 14% growth. Through additional investment of 300 million USD, we aim to become the most important actor on the furniture scene in the region. We aim to use 70 million USD for increasing capacity and furniture sector investments in the domestic and international markets and capacity increasing. Towards this end, we have invested 20 million USD for taking over a furniture company based in Russia and Ukraine as a part of our plans for international expansion. We intend to increase the capacity of these companies with a further 60 million USD investment over the next five years in order to renew machinery and add new facilities. After the conclusion of these investments in Russia and Ukraine out target sales revenue is 100 million USD per year and an estimated 600 employees.
We have initiated investments in the energy sector in 2010 and allocated 1 billion USD for this sector over the next 2 years. Planned growth in the Turkish energy sector includes further 150 million USD investments under Boydak Energy. Fully aware of our responsibilities as one of Turkey’s forthcoming holdings, further investments in all our areas of activity shall continue. We plan to invest 25 million USD in the cable industry, 20 million USD in the textile industry and 10 million USD into the steel and iron industries during 2011. A further allocation of 25 million USD for our other participatory companies is also planned. We believe that 2011 shall be a year full of success and growth in all our areas of activity while being a remarkable year in terms of international growth. 2010 has been full of many wonderful successes and now it’s time to raise the bar. Investments carried out in 2010 have brought much success encouraging us to raise the bar higher.
Our most sincere thanks go to our colleagues, partners, consumers and shareholders who have put forward of themselves in the attainment of this success.