Dear Partners and Employees,

As the leading manufacturer of Turkey’s packaging industry, Korozo’s priorities has never changed since 1973: We have always focused on the best and introduced the highest quality, the most innovative and reliable products to our consumers... For 45 years, we have progressed in line with these commitments and sustained our consistent growth. We have positioned our business strategy as to offer competitive, innovative and market leading products; and today we are really proud to rank the 161st in the list of Turkey’s Top 500 Industrial Enterprises.

Being a pioneer in the industry and serving as an academy to learn, Korozo constantly contributes to our country and our people through continuous investments, industrial innovations, our new and high quality products, the importance we attach to R&D and innovation, sustainability-focused vision, export volume and our huge team of 1900 employees.

Despite the constant-changing market conditions, our growth continued in 2017 as well with our successful performance; we maintained our reputation as the brand name of trust and quality both in the country and abroad. By improving the quality, we made 85 thousand tons of production with an increase of 6% compared to the previous year. Within the scope of our plans to grow both locally and globally in this process, we undersigned a shareholders’ agreement with Actera Group, the largest private equity firm dedicated to investments in Turkey. With this agreement, we have gained more strength.

For the purpose of tracking our customers’ expectations according to the product groups, we have improved our organizational model. Now, we aspire to take our place among the renowned global companies of the industry…

In 2017, the second stage of Çorlu Factory was completed where we made investments for 11 color rotogravure printing machine, new 9-layer extrusion machine, for solvent recovery system and trigen electricity generation. 8 thousand tons of production has been made in this facility. The major part of our factory will start to serve by the end of 2018; and when operating at full capacity, our factory will become the largest integrated packaging facility in Europe. When at full capacity, the factory will provide approximately 470 employments and we will be exporting to 85 countries. Thus, we would be providing strong and positive contributions to Turkish packaging industry as well as Turkey’s foreign trade.

Including Çorlu Factory, with 9 advanced technology factories in Turkey and we are among the largest packaging manufacturers of the Middle East and Europe. While we are responding to an increasingly growing demand through our sales and distribution offices in UK, Germany, and France; we also export high quality, reliable and innovative products.

Being the first and only company of the industry which signs the United Nations Global Compact framework of universal principles, we are acting with responsibility towards our country, society, environment and employees. Our HR policy has an emphasis on prioritizing occupational safety and health with a focus on human being and we adopt an ongoing training and development approach. With this respect, we are implementing a dynamic and proactive workplace safety system. Averagely 650 training courses are performed in our facilities each year. Furthermore, with the awareness that each employee is a unique talent, we are striving to create processes to uncover their potential. Ongoing training and development approach aims to empower the employees. Here, the focal point is to create benefits through our efficiency strategy and sustainability principles. We believe that all these efforts have contributed to the fact that Korozo has been selected the “Most Acclaimed Company of Packaging Industry” in the survey titled “Turkey’s Most Acclaimed Companies”.

For the upcoming period, Korozo will maintain its growth both organically and inorganically to become a global company and we will be sustaining our development together with Turkey. One of our goals is to increase the capacity of our existing facilities by 10% through an investment of 18 million euros. Besides, it is one of our objectives to acquire companies both in Turkey and Europe.

For our strength, we count on all our employees with their labour and dedication, our precious partners and customers who always have confidence in us. In this respect, I would like to express my gratitude to all our employees and stakeholders.

Sincerely,

Jeki Mizrahi

CEO

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