PETLAS, the leading domestically-owned company in the Turkish tire industry, achieved its highest monthly export figure to date in August 2021 and reached a record high with exports worth $39 Million monthly. PETLAS renewed its annual export target of $280 Million and 40 percent with this record. PETLAS increased its monthly export tonnage to more than 10,000 tons in August and exported 500,000 tires to world markets.
PETLAS, the leading domestic capital company of our country's tire sector, which operates within Turkey's domestic capital industrial power AKO Group, achieved its highest monthly export figure to date in August 2021 and provided $39 million in export revenue to the Turkish economy.
PETLAS increased its monthly export tonnage to more than 10,000 tons in August and exported 500,000 tires to world markets.
Export Growth Target 40 percent and 280 Million Dollar Turnover
PETLAS, which has gained great attention in world markets with its high-tech products, has export markets spanning 120 different countries on 6 continents, including countries with large-scale automotive industries and markets such as the USA, Germany, and Italy. PETLAS, which has been able to maintain its export figures to a large extent despite the global health crisis in 2020 and exports at the level of approximately 200 million dollars, also revised its 2021 export growth target from 25 percent to 40 percent.
AKO Group Board Member Abdulkadir Özcan said, "PETLAS acts with the awareness of taking the phenomenon of 'Turkish Brand' to its rightful place in the world in the globalized economy and competition. We are proud to provide export revenue to our country's economy with performance above our targets. We exported a record 39 million dollars in August with our tires produced with domestic capital, domestic R&D and engineering, domestic workforce. I congratulate and thank all my colleagues for this success. We revised our 2021 export growth target, which we had previously set at 25 percent, to 40 percent with the confidence and perseverance given to us by our success. We are committed to increasing the export revenues we provide to our country and continuing to increase our contributions to the country's economy with exports of over a quarter of a billion dollars and 280 million dollars." while stating that they achieved successful results, especially on the export side in 2021.
Aggressive targets in the U.S. market
PETLAS is also moving with aggressive targets in its exports to the U.S. market. PETLAS, which aims to increase its exports to the U.S. market to $100 million in the medium-long term and to achieve rapid and lasting growth with the competitive advantage provided by its high-tech products, continues its $60 million investment in this direction.
Abdulkadir Özcan added that the regions where PETLAS exported the most in August were North America, South America, and Europe, and exports were carried out with nearly 1000 containers and trucks.
$700 million investment
Özcan said, “AKO Group, Turkey's domestic capital industrial power, has been transferred to the structure of the last 10 The sum of the investments, which accelerated every year, approaches the level of 700 million dollars. In our company, investments continue continuously to produce the highest quality products that will meet the needs of tire users both in the domestic market and in our export markets. PETLAS, the leading brand of the Turkish tire industry with 100% domestic capital, from passenger cars to trucks and buses, from tractors to vehicles used by military units and security forces, from construction machines to fighter jets, produces and sells high-quality tires in 80 different patterns and 2500 different sizes with domestic capital, domestic engineering, and R&D, domestic labor force. In 2021, we aim to continue to grow across our entire product range, particularly truck bus (TBR) tires.” while expressing that in line with the capacity increase realized in PETLAS in 2020, investments for diversifying the existing product range and increasing efficiency continue unabated.