Borsan Group Chairman of the Board of Directors Adnan Oluz said, 'We believe that the most important infrastructure of our salvation and success is to move to products with high added value. For this reason, we are establishing an R&D center for Turkey."
Adnan Ölz commented on the Turkish economy and stated that the crises can be overcome in a cold-blooded manner. Stating that Turkey is going through a difficult period economically, He said, 'We are experiencing these difficulties like everyone else. We've had many crises before. Crises also bring with them opportunities of a certain extent. So I'm not talking about earning more in times of crisis. Those who manage to be cool in crises have the advantage. We have experience with the crisis. We have no right to comment on why today's situation is the case. However, we must come up with ideas about what to do today."
Emphasizing that they have made big investments in Borsan factories in the last 3 years, He said, '2 years ago, we moved our aluminum factory in Istanbul to Samsun. Afterwards, we entered the production of LED lighting and established this factory. At the end of last year, we moved our factory in Italy to Samsun. Thus, Borsan continues its production activities with copper factory, aluminum factory, special cable producing and LED lighting factory in Samsun Organized Industrial Zone. Of course, the products we have just made are products with high added value. Both led products and special design cables are products with high added value. Especially in recent years, we have turned to products with high added value. Currently, the factories are operating regularly, but we are cautious in domestic sales in Turkey. As you all know, we have updated our sales system in TL sales as most of the raw materials are tied to dollars. It is impossible not to be harmed in these situations, but we strive to get out of this process in the most successful way with minimal losses. That's what we have to do. From that point of view, we move on. In the meantime, we are establishing a new R&D center in the coming months while producing high value-added products. In this center, we will start our work both related to special design cables and LED products. We plan to establish this R&D center within the next 3 months. R&D center is very important for Turkey. Because when we look at Turkey, we see that there are 9 manufacturers producing high technology in large industrial organizations. As Turkey, we need to produce products with high added value. For this reason, we believe that the most important infrastructure of our salvation and success is our transition to high value-added products. We are setting up the R&D center for this purpose."