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The great performances of 2020 and 2021 continued into the first quarter of 2022 but, with the fall in global demand, prices and then exports started to decline. By the third quarter, therefore, capacity utilization rates and profitability among recovered paper mills started to decrease. Since the same applies in foreign markets, prices of imported recovered paper have also dropped to a significant extent. The general expectation is that this situation will remain the same for the fourth quarter of 2022.

The profitability experienced in 2020 and 2021 prompted paper mills and entrepreneurs to announce new investments, with around 4 million tonnes of additional capacity due to be activated over the coming two years. In the near future, therefore, Turkey will become an exporter of finished paper while remaining a major importer of recovered paper to meet increasing demand.

In light of these developments, Eren Kagit has chosen to establish a paper factory in the UK. The current investment of US$ 700 million in two separate machines (testliner and fluting & tissue) will create the country’s biggest paper mill.