Plastic pipes and fittings producer Palaplast sticks to its target for expansion abroad launching new products, sources told BNB Daily. Also, the company’s earnings performance is expected to improve this year. In 2022, Palaplast reported a drop in its profits due to energy costs and raw materials which narrowed profit margins. Looking ahead, Palaplast aims at rising further its market share. 

The company has recently proceeded with a share capital increase with the participation of the parent Turkey-based AK PALAPLAST IZMIR PLASTIK. PLAPLAST IZMIR invested 935K euros in the capital raising. 

Palaplast is strongly export-oriented, with over 70 export destinations and 4,500 irrigation,  water supply and heating products.