Albayrak Ready-Mix Concrete has moved to expand its production network in Istanbul. The company aims to commission two new plants this year upon completion of bureaucratic and technical procedures, adding approximately 60,000 cubic meters of monthly production capacity.
The company, which began operations in 1984 as Albayrak Ticaret, selling construction materials and providing logistics services, has supplied concrete to many major public and infrastructure projects since 2014, notably the Üsküdar-Çekmeköy metro line. Currently operating five plants, the company continues its activities with over 200 specialized personnel, a large machinery fleet, and real estate projects.
Albayrak Ready-Mix Concrete Chairman Erdal Albayrak shared his assessment of the company's growth strategy. Albayrak stated that the company holds a market share ranging from 7 to 10 percent in Istanbul and between 0.7 and 1 percent nationwide in Turkey.
Emphasizing that the public offering process brought transparency and a corporate structure to the company, Erdal Albayrak said, "We will invest more than 80 percent of the proceeds from the IPO. We will strengthen our existing infrastructure. We will use only 5 to 10 percent of the IPO proceeds for debt repayment, because we are not a debt-ridden company. The remaining portion will be used to strengthen our capital."
Providing details on the new plant investments, Albayrak said, "First and foremost, if we can complete the bureaucratic and technical procedures this year, we plan to open two new plants in Istanbul. Our growth in Turkey depends entirely on emerging opportunities, which could be anywhere in Anatolia. These two plants we will open in Istanbul represent approximately 60,000 cubic meters of additional monthly capacity. We also plan to build plants in regions where we currently have no presence."
The company has set an investment budget of approximately 500 million liras and aims to capture all opportunities that may arise in Anatolia in addition to its new investments in Istanbul. Erdal Albayrak added, "We want to institutionalize our company and carry it into the future. We are open to any innovation in our field in our country and will integrate it into our company. We will strive to take Albayrak Ready-Mix Concrete further every day."
