Borsan Group, an industry giant with an established legacy of 35 years in industrial manufacturing and trading, takes responsibility under Turkey’s “All-Out War on Inflation” program. The group’s decision to apply a 10 percent price discount on its lightning and LED products was announced by CEO Mehmet Arbek Akay.
Borsan Group, a leading Turkish corporation with its headquarters established at Samsun, joins the 10 percent price discount mobilization under Turkey’s “All-Out War Against Inflation” program that was unveiled by Turkish Treasury and Finance Minister Berat Albayrak.
Borsan Group CEO Mehmet Arbek Akay has announced that the group will apply a 10 percent discount on lightning and LED productions that are produced under Borled brand, as a statement of its commitment to make every support to economic recovery.
Borsan Group employment numbers grew by 20 percent, despite challenging economic climate.
“Borsan Group consolidated its furniture, lightning and LED products, and copper, aluminum and special design cable manufacturing operations held at its 5 production facilities, in the city of Samsun. Moving the plants from Istanbul and in Italy where they were formerly located has provided operational competitive advantage to the group, as well as contributing to Samsun’s economic and social structure” said Borsan Group CEO Mehmet Arbek Akay. He continued his words, saying: “We continue our operations on a robust competitive base; keeping a strong position in our domestic and exports markets. We too were exposed to the effects presented by the economic volatility, yet Borsan has a solid corporate structure. We are fully aware that global conflicts and the economic uncertainties they inflict form the new normal of our day. We were prepared for potential challenges, and the measures we have devised have helped us to stay ahead of turbulence. On top of keeping our employment figure, we have increased Borsan’s headcount by 20 percent. Borsan Group provides direct employment to 2.200 people.”
Total Support for All-Out War on Inflation
“Borsan Group proudly acknowledges its responsibility and joins Turkey’s effort for all-out war against inflation” said Akay, “The economic conditions we are going through presented Turkey with though challenges for the past two years. Against these challenges, we focused our efforts in searching ways to strengthen our own corporate resilience and, more importantly, to contribute our country’s economic resiliency. As a leading corporate citizen of Samsun, and a leading corporate actor of Turkish economy, we are fully aware of and cordially committed to our responsibilities within the All-Out War Against Inflation Program. Our ability to make price adjustments in our industrial products maybe be limited, since these products largely depend on imported raw materials such as precious metals and plastics, since these products largely depend on imported raw materials such as precious metals and plastics, however we join Turkey’s concerted effort for a stronger economy with price reductions in our lightning and LED products. Starting this week, we join the campaign with a 10 percent price discount on these products. We confidently hope that our country will successfully navigate these challenging times and look out for lighter days ahead. We are ready to provide any support in our corporate capability in this direction. We know that, once today’s difficulties are left behind, brighter days await our country and community. This acknowledgement forms a compass for all our outlook and endeavors. We will work even harder and provide even higher added value, to join the steps taken by our country economy administration towards a better tomorrow. We are ever committed to our run towards our corporate objective to become one of Turkey’s most valuable companies in electronics industry and cable manufacturing sector”, he added.
“We focus on higher value-added products; our R&D Center due for operational status in 2 months”
Emphasizing on higher added value products’ importance for Turkish economy, Akay further said: “We are conducting projects to increase the number of high value-added products in our fields of business. Our R&D Center, which we aim to make fully operational within 2 months, will boost our abilities for value added products for a variety of industries, including aviation and medical supplies. We aim to further improve our competitive power in production and exports, and to establish a 75 percent exports’ ratio by 2019. We will resume to be a provider of value-added products and services for Turkish economy; as we continue our efforts for cultural change and globalization within our corporate structure.”