Istanbul – Turkish PU manufacturer Kimpur has posted higher consolidated revenues for the first nine months of 2022, increasing them by 121% year-on-year to about TRY 3.4 billion (€183.7 million), according to a statement shared with Urethanes Technology International.
‘We anticipate that our company, which outperformed its budgets in sales revenues and net profitability with approximately 24 thousand tons of sales in the third quarter of 2022, will further increase its exports and maintain its strong performance throughout 2022,’ Cavidan Karaca, the company’s chief executive, said in the statement.
In the first nine months of this year, Kimpur’s gross profit rose by 133% compared with the same period last year, to some TRY 528 million. The company’s earnings before interest, depreciation and taxes (EBITDA) expanded by 149% to some TRY 547 million between January and September 2022, according to figures supplied by Kimpur.
The company says it has the largest capacity in the region, and has increased its production capacity by 98% (from 65,000 tonnes to 129,000 tonnes) in the last three years. In the same period, the company has seen its sales double.
Kimpur is currently building a new factory in the Düzce organised industrial zone, in northwest Turkey, which will have a capacity of 65,000 tonnes of various products per year.
Karaca said that the investment is Düzce is expected to be completed in ‘the beginning of 2023’.
Kimpur is also developing a new range of environmentally-friendly products. Most recently, Karaca continued, the company has managed to obtain ‘roughly 20% of the polyester polyol used in the production of slippers from PET waste and roughly 17% from bio-based raw materials’.
The Istanbul-based PU producer supplies its output to a wide range of industries. Kimpur’s portfolio includes products for the footwear industry, flexible foams, and rigid foams.
