ISTANBUL.
Eczacıbaşı Consumer Products, part of Eczacıbaşı Group, has invested 25 million euros in a tissue paper plant in Morocco and seeks to expand operations in Africa.
The factory in the city of Casablanca marks the group’s first investment in Africa, while Eczacıbaşı Consumer Products became the first international company in the African nation, which engages in both production, sales and marketing operations in the local tissue paper market.
The plant will manufacture more than 50 products, including toilet paper, paper towels and hankies, under Eczacıbaşı’s well-known brands Solo and Selpak.
Eczacıbaşı has allocated 200 million euros to be invested in its core business in 2022, Eczacıbaşı Group CEO Atalay Gümrah said, noting that investment in the first nine months has amounted to 150 million euros.
“Our investments will continue in the remainder of 2022 and into 2023. In addition to our organic investments, we are also implementing different projects. For instance, we took a new step in the health [sector] by recently acquiring Gensenta İlaç,” he furthered.
More than 60 percent of the group’s revenues come from international trade and Eczacıbaşı Consumer Products’ target is to grow through international investments and trade, Gümrah said.
They are the leader in Türkiye’s tissue paper market with a 22 percent share, said Bülent Kozlu, the CEO of Eczacıbaşı Consumer Products.
“Morocco, where we have been growing constantly since 2018, plays an important role in our plans to become a regional power.
Morocco is just the beginning. With the experience we gathered in this market, we want to invest in other African countries,” he added
The share of the Selpak brand in the upper segment of the Moroccan market is 47 percent, Kozlu noted. “Now it is time to become a larger player in Morocco as the Solo brand enters the local market.”
Their target is to increase the share of international sales to 50 percent in the company’s total sales in 2026, Kozlu said.