Dear Business Partners and Employees

As market leader in the Turkish flexible packaging industry, Korozo has always maintained the same vision since its establishment in 1973 – to put the Korozo signature on every high-quality product packaging. We have proudly managed to achieve this and we are committed to continuing in the same direction. Always focusing on offering the best solutions, we have been researching, developing and investing to consistently grow the company for the last 46 years in order to provide our consumers (should this be customers?) with the most innovative and most reliable products.

Today, we are proud to be ranked 145st among Turkey’s Top 500 Industrial Enterprises and number 1 in the “Packaging” category of “The Most Admired Companies in Turkey” list of Capital Magazine. We know that these awards acknowledge our contribution to the national economy and employment, our visionary investments, and our credibility. Therefore, our responsibility grows even further as the leader of our industry. In 2019, we will continue to take steps forward in full awareness of these responsibilities.

Last year, we ceaselessly manufactured products in 10 factories located in major industrial zones operating at the heart of the Turkish economy. Just as veins carry blood to the heart in a human body, we support the health of our country’s economy and employment. In 2018, the Korozo family grew to a total of 2,000 people.

Last year, our Çorlu Factory became fully operational as Europe’s largest integrated packaging facility, manufacturing approximately 21,000 tons of packaging. Located within the European Free Trade Zone, this factory also contributes to employment, with staff numbers reaching 400.

We made a commitment to the European Bank for Reconstruction and Development to recycle the solvents at our Çorlu Factory. The Bank trusted us and joined us in achieving this goal. With the technologies we developed, we aim to reduce solvent-related emissions by 2,200 tons per year. At our Industry 4.0-compatible factory that is equipped with all modern systems, we also generate 60 percent of the electricity we need for our operations.

In 2018, we achieved a performance that has allowed us to continue our growth despite ever-changing market conditions and to maintain our brand synonymous for trust and high quality both in Turkey and abroad. Within the framework of our local and global growth plans, Korsini, which has been our offset label printing partner since 2004, now operates under the Korozo umbrella. With the participation of the world’s second largest offset label printing company Korsini, Korozo grew stronger and became an even bigger family.

While meeting the increasing demand through our growing sales network, we exported 65% of our high-quality, reliable and innovative products, thus crossing the borders of Turkey! We sell our products to 88 countries. I am proud to say that Korozo is 80th among the biggest international sellers of our country.

And now, our goal is to gradually increase our sales at least by 75 percent in the next five years and become one of the top 10 companies of our industry in Europe. We will grow both organically and inorganically, with the aim to acquire at least one facility in Europe in the next five years.

As the first company in the industry to sign the United Nations Global Compact, we always operate in full awareness of our responsibility towards our country, society, environment and employees. Protecting the health of our employees, creating a safe and secure working environment, and ensuring zero workplace accidents are among our major goals. Therefore, we upgraded our Occupational Health and Safety Department to a Directorate and improved its position in our organizational structure. Within the scope of our related procedure, we implemented an extensive occupational safety training program for all employees before placement. In addition, investments in modern technologies will improve our occupational safety systems.

In the upcoming period, we will continue to expand our product portfolio with innovative products in parallel to the global trends. We will try to meet all needs, expectations and demands of our customers. We will also fulfill our responsibility towards the planet through our human and environment-friendly products and production. Thus, we have launched a new period in which we will focus more on recycling and recycled materials. Our strength lies in our employees who always stand by us with their efforts and devotion, as well as our esteemed business partners and customers who always trust in us. Taking the opportunity, I would like to express my gratitude to all Korozo employees and stakeholders.

Yours sincerely,

Jeki Mizrahi

CEO

KOROZO

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