CORPORATE

Message From the Chairman of the Board of Directors

Dear Shareholders,

 

2016 will be remembered for a series of crises in the economic and political arenas. With ambiguous commodity and oil prices both in Turkey and worldwide, 2016 was a year in which all expectations were upended, and reliable forecasts were at a premium. While uneasiness regarding global economic growth dominated the agenda, the news about fluctuations in the Chinese market, the UK’s decision to leave the EU, and Donald Trump’s victory in the USA presidential election dominated the markets. In Turkey, the domestic markets suffered several shocks, especially with the coup attempt on July 15, the Russian crisis, a spate of terror incidents, and the docked ratings from international financial institutions.

Analysts claim that the dollar will be the main agenda in 2017. In the event that President Trump fulfills his promises to his electors, the value of the dollar is projected to continue rising. As in 2016, markets will again be unsteady in 2017. However, we hope that the effects of these fluctuations will be minor. Regarding Turkey, it is predicted that the constitutional referendum will be the determining factor for 2017.

As for our company, apart from events shaking the world and our country, it can be observed that last year was very successful. Aksa Akrilik came out with several novelties. New products were introduced on the market, and research and development activities, as well as innovative investments, continued at full steam. These innovative investments include modacrylic fiber, which is flame-retardant, or non-flammable, and can only be produced by a few companies worldwide. Furthermore, investments on the sector’s first pigmentdyed acrylic filament yarn, developed by Aksa, march on.

Aksa Akrilik, a world-leading acrylic fiber producer with nearly 50 years experience and a customer-focused approach, introduced four new brands that touch every aspect of life in the last activity year. Being ever present for our business partners, offering expertise, product quality, technical service and reliability, Aksa Akrilik sustained growth while considering the needs of its customers. The company aims to offer a new vision for acrylic fiber, and to raise acrylic fiber to its rightful level, as the world’s leading acrylic fiber producer, with our new brands: Acryluna accentuates the softness, warmth, and colorful and joyful world of acrylic fiber; Acrysole is our solution for  outdoor applications; Acryterna is customized for use in industrial areas; and Acrylusion brings out the innovative and superior aspect of our acrylic filament product. With a new brand understanding, Aksa Akrilik has completely turned the focus towards quality and customer expectations.

Another development that we, as a company, are proud of is that Aksa Akrilik maintained its place among Turkey’s 500 Largest Industrial Enterprises, as in the previous years. In the Capital 500 list of Turkey’s largest 500 private companies, our company took first place in Textile and Clothing, and maintained its prominence among Turkey’s largest companies. According to data obtained in 2015, Aksa Akrilik, the world’s largest and Turkey’s only acrylic fiber producer, stood in 35th place on the ISO 500 list. Climbing from third to first place in “Corporate Governance Rating” was another key achievement and source of pride for us in 2016. DowAksa, our joint venture based on equal partnership with Dow Chemical, gained ground in wind turbine supply in 2016. The Company continues to take firm strides towards agreements with the sector’s large power plant producers, on the back of producing turbines with unique technology.

In spite of the uncertainties in the financial markets, political crises and ever changing agenda items, it is neither fortune nor coincidence that Aksa Akrilik had a successful year. Aksa Akrilik, once again, stood out with constant development, an innovative product range, and an emphasis on the operational efficiency brought about by our business processes. Our trust-worthy, experienced and innovative structure, as well as our sustainable profitability strategy and outstanding human resources, will continue to be the driving force behind all our initiatives, and our greatest investment for the future.

Holding its position as the sector leader, Aksa remains determined to sustain its productivity-based approach and innovative production investments in business processes, supported by modern technology. We operate with the principle of respect for nature, and a sense of social responsibility, which will continue to offer value to the Turkish and global economy in 2017.

I extend my sincere thanks to all the members of the Aksa Family, who always work devotedly, as well as our shareholders, customers, financiers, and all stakeholders supporting us under all circumstances.

 

Mehmet Ali Berkman

Chairman of the Board of Directors