Founded in 1944 with İstikbal Ticaret, Borusan Group continues to create added value for the Turkish economy with more than 14 thousand employees in 5 main fields of activity in 3 continents and 11 countries. Closing 2023 with a turnover of 182 billion TL, Borusan aims to invest 63 billion TL by 2026.
Founded in 1944 with İstikbal Ticaret, Borusan Group has been creating value for the Turkish economy for 80 years. Moving towards its goal of becoming a 200-year Group, Borusan carries out pioneering activities in its fields of activity and prioritizes sustainability and providing benefit to society.
Borusan, which started its journey 80 years ago with İstikbal Ticaret and today creates value with more than 14 thousand employees in 5 main fields of activity - production, machinery and power systems, automotive, logistics, energy - in 3 continents and 11 countries, continues to shape the future in its 80th year, inspired by its history.
Achieving strong growth last year, Borusan closed 2023 with a turnover of 182 billion TL with 73 percent growth. While one of the most important steps of 2023 was realized in the field of energy, important collaborations were signed with a focus on establishing electric charging stations. In addition, the Saros WPP facility was transformed into a hybrid facility and the 94 MW SPP investment process started. In the pipe business line, Berg Pipe in the USA was acquired for 162 million dollars, while 16.9 percent of the shares of Salzgitter Mannesmann GmbH, a partner of the pipe company, were acquired, increasing the share to 100 percent.
63 billion TL will be invested until 2026
In 2024, Borusan will continue its steady growth in the manufacturing, machinery and power systems, automotive, logistics and energy sectors in different markets around the world, especially in Turkey, while focusing on volume growth and sustainable profit growth that will carry the organization forward by managing opportunities and risks well. Defining the Group strategy for the upcoming period under 3 main headings, Borusan will focus on transforming and developing core businesses, growing in adjacent areas and entering new areas, while using talent, digital transformation and sustainability as leverage in all these headings. With an investment plan of TL 63 billion until 2026, Borusan plans to invest TL 31.2 billion in manufacturing, TL 10.9 billion in automotive, TL 9.5 billion in energy, TL 6.1 billion in machinery and power systems, and TL 5.3 billion in logistics.
Sustainability is integrated into business processes
In addition to its successful operations in its fields of activity, Borusan addresses sustainability in an inclusive manner under the headings of climate, people and innovation, and integrates sustainability into its business processes. In this focus, Borusan prioritizes reducing carbon emissions and switching to low-carbon production technologies by 2030 with a focus on climate. While Borusan's total scope 1 and scope 2 emissions have decreased by 13% since 2021, steps are being taken to increase the level of readiness for carbon pricing mechanisms such as CBAM to effectively manage risks and seize opportunities. Among the main goals are to increase water recovery rates and develop projects to protect water resources, adopt a circular economy approach to protect natural resources, and reduce waste and ensure its participation in recycling.
With a focus on people, Borusan aims to be among the top 10 most preferred employers, to keep its sustainable loyalty score high, to reach 10 percent of female employees in the field and factory, and to reach 40 percent of female leaders and office employees. While Borusan's culture change project BorusanX is underway, the aim is to internalize the new values and cultural elements throughout the organization through culture teams, cultural transformation action plans and implementation-guidance studies. While occupational health and safety is one of the most important issues in line with the value given to people, targets to reduce accident frequency and accident severity rates have been set and are closely monitored in line with the zero accident target.
Under the heading of creating value through innovation, it is aimed to develop circular and carbon-free business and service models, and to provide social and environmental benefits through entrepreneurship ecosystem collaborations.
"We've only just begun"
Erkan Kafadar, Borusan Group CEO, said the following about the 80th anniversary: "This year is an important year for our Group, we are celebrating our 80th anniversary. With our approach that puts people at the center and believes in success through people, we have been accomplishing important works in different fields of activity for a long time. Maintaining this stability requires great effort. As Borusan Group, we are in a period in which we are changing the way we do business, transforming our operations, and growing with new investments as we move towards our goal of becoming a 200-year-old organization. With our 80 years of deep-rooted corporate culture, we are taking action with courage, inspired by the past and the present. 80 years may seem like a long time, but we have the energy and motivation to do more. This is why we say 'We have only just begun'. While I am proud of the point we have reached in our 80-year journey, I would like to thank all my colleagues who have contributed to this success."
80th anniversary to be celebrated extensively
Spreading its 80th anniversary celebrations throughout the year, Borusan will publish an 80th anniversary documentary and book. Borusan has also renewed its website specially for the 80th anniversary and prepared a memory book area on the website. Borusan will also celebrate its 80th anniversary with its employees on Borusan Day.
While Borusan celebrates its 80th anniversary, Group companies Borusan Lojistik celebrates its 50th anniversary, Borusan Otomotiv and Borusan Port its 40th anniversary, Borusan Cat its 30th anniversary and Borusan EnBW Enerji its 15th anniversary. The 2024-2025 season marks the 30th anniversary of Borçelik's transition to production and the 25th anniversary of Borusan Istanbul Philharmonic Orchestra (BIPO).