Borsan Group Board of Director Chairman Adnan Ölmez, who pointed out that Turkey is going through an economically challenging period, said “We are experiencing these difficulties just like everyone else. We have been through many crises before. Crises also bring a certain amount of opportunities. I am not talking about earning more during a crisis. Those who manage to remain calm during a crisis have an advantage. We have some experience in going through crises. We do not have the right to make any comments on how this current situation came to be, but we should come up with ideas on what we are going to do about it today”.

“We produce products with high added value”

Ölmez pointed out that the company had made some large investments in the past 3 years and added: “2 years ago we moved our aluminum factory in Istanbul to Samsun. After that we started led lighting production and established a factory for this. At the end of last year we also moved our factory in Italy to Samsun. Thus Borsan continues manufacturing with a copper factory, aluminum factory, special cable factory and led lighting factory in the Samsun organized industry zone. Of course the new products we are producing are high added value products. Both the led products and the special design cables we produce are high added value products. We have turned our attention towards high added value products in recent years. Factories are now operating regularly but we are being cautious about sales in Turkey. As we all know, due to most raw materials being priced by dollars we have had to update our sales system for TL sales. It is impossible not to sustain a loss in this situation but we are working to overcome this period with minimum losses. This is what we need to do and we are continuing on our path with this approach.”

R&D is very important for Turkey

Underlining the fact that Turkey needs to produce high added value products, Ölmez concluded as follows: “We will be establishing a new R&D center in the next few months. We will be working on both our special design cables and our led products in this center. We plan to set up this R&D center within the next 3 months. R&D centers are very important for Turkey because there are 9 producers that produce high tech products among the large industrial companies in Turkey. We, as Turkey, need to produce high added value products. This is why we believe that moving on to high added value products will constitute most important factor for our recovery and our success. We are establishing this R&D center for this purpose.”