JOURNEY FROM THE FAMILY TO THE CORPORATE TO THE TOP

JOURNEY FROM THE FAMILY TO THE CORPORATE TO THE TOP

• 08.07.2017

The companies in which the educated second generation enters the management make a difference. Ulusoy Un from Samsun is one of them. The company continues its growth with exports and public offerings in the stock market. Underlining that they have many benefits in terms of institutionalization, Ulusoy Un President of the Board Eren Günhan Ulusoy said, "We aim for sustainable growth with active risk management." says.

The support for Turkey's need for industrialization came mainly from the agricultural sector until the 1970s. The preferred sector here was the flour industry. So much so that there was no town left that did not open the "mill". Excessive gains with the support of the state; It literally exploded in the number of flour mills and the increase in capacity. There came a time when the wheat equivalent of world flour trade was around 8 million tons per year, the idle capacity in Turkey was three times this value. During this fury period, in 1969, Fahrettin Ulusoy opened a flour factory in Samsun.

GROWTH ACCELERATED WITH EXPORTS

The most active region in wheat trade is the Black Sea region. Only Kazakhstan, Ukraine and Russia export 90 million tons. Turkey is on the way of the raw material produced in these countries. Turkey uses its own production, but as the advantage of being a transit route, it brings the raw material, processes it and sends it to other countries as finished products. Ulusoy Un is one of the companies that do this processing in Turkey. As it naturally owes its growth to exports, it felt the need to improve its organizational structure in order to manage the growing volumes. This was accomplished by the second generation Eren Günhan Ulusoy, who graduated from Boğaziçi University, Faculty of Economics and Administrative Sciences, Department of Business Administration in 2003 and completed his master's degree in Agricultural Economics at Ondokuz Mayıs University in 2014.

ACTIVE RISK MANAGEMENT IS APPLIED

The gong rang for Ulusoy Un on 20 November 2014 at Borsa Istanbul. Ulusoy Un Ind. and Tra. Inc., the first company from Samsun to go public. 27.8 percent of its shares began to be traded on the stock exchange. However, due to the deterioration in the market after Ulusoy Un was listed on the stock market, it was not expected in terms of share performance. Despite this, Ulusoy Un's President of the Board, Eren Günhan Ulusoy, states that there are important gains in terms of institutionalization and that they aim for sustainable growth through active risk management in difficult times.

TURKISH FLOUR ATTENDS NINE PERCENT OF THE WORLD'S POPULATION

Eren Günhan Ulusoy, who is also the President of the Turkish Flour Industrialists' Federation (TUSAF), explains the data regarding the Turkish Flour Industry, which produces approximately 15 million tons of flour per year, as follows: It closed with exports. This means exactly 1 billion 80 million dollars of exports. There is an increase of 25 percent on amount and 10 percent on value basis compared to 2015. These export figures are a world record. Turkey has exported flour to 160 countries in the last ten years. The people living in these countries exceed 92 percent of the world's population, and the countries we export the most flour to are Iraq, Sudan and Syria.

You can read the entire article in the 2017 July issue of Derin Economy Magazine.