Turquoise was established as a small recycling company in Istanbul in 2004 with a very limited capital. We mainly recycled many types of scrap plastics and regranulated them for the reusage in the local market. Our capacity was very limited and we had a small place. These years, Chinese domination in the global recycling industry was a retarding factor for us. Recycling technologies, therefore, has developed comperatively slower.
This is the story until 2015. Turkish market and recycling community here in Turkey started to get more imports especially from Europe since these years. These years we imported from Europe polystrene powder scrap which is recycled and reused in the insulation technology. This was good for the construction companies as it is resulted in lower insulation costs. The quantity of the scrap demanded from Europe was high because granule demand was high in the local market. Supply got therefore very competitive and slowly it increased purchase prices of the scrap. Then we have withdrawn from GPPS recycling. Sizewise we were not so big either.
In 2016, we recycled LDPE for a while. From rolls we made very good quality LDPE granules but sharp fluctuations in the prime material prices affected our production. Then we decided to go further into some final products from the granules that we had produced. It was a smarter idea compared to recycling only. Last two years, we got into cooperations with a couple of local companies and international distributors. As we have been getting successful, some of these cooperations become partnerships.