Following the distribution of fuel, one of the main components of the energy industry, OYAK has also entered the LPG distribution business in Turkey, the second largest LPG market in the world, and completed triplet in the journey to become a "leading player" in this field. Consolidating the TOTAL and M Oil brands, OYAK has added Milangaz to its portfolio with a strategic move.
OYAK General Manager Süleyman Savaş Erdem: We have completed our first goal with the growth move in the energy industry in the period which we call a “period of determination, and we will further increase our profitability, competitiveness and added value that we create. We have the most widespread and powerful logistics network in Turkey with a 130,000 m3 LPG storage capacity in 20 locations. Our goal is to complete the journey to leadership by increasing the market share of approximately 10 percent in autogas and 19 percent in bottled LPG which we achieved with the takeover of Milangaz.”
OYAK, the largest occupational pension fund in Turkey, completed the share transfer of Milangaz, one of Turkey's leading companies in the LPG market, after nearly a year of negotiations to acquire its brand and LPG operations. Operating in the autogas, bottled LPG, bulk gas and wholesale segments in 81 cities of Turkey and more than 950 districts for 60 years, Milangaz will continue to serve with five sea terminals, 19 tube filling plants, more than 550 autogas dealers and approximately 1,200 bottled LPG dealers, as well as with its powerful land and sea fleet under OYAK.
OYAK became the fifth largest player in the market by acquiring TOTAL and M Oil with all of its operations at the beginning of this year. Consolidating its fuel companies under Güzel Enerji with the goal of steering the energy industry with high performance and efficiency, and in line with its “policy for investment in the industries in which it will grow with new initiatives and sustain its profitability”, OYAK completed its strategic triplet in the energy industry with the acquisition of Milangaz.
Erdem: “We shaped our future in the energy sector”
OYAK General Manager Süleyman Savaş Erdem stated that they have completed their first goal with the growth move in the energy industry in the period which they call a “period of determination, and they will further increase their profitability, competitiveness and added value that they create. Erdem stated that they have the most widespread and powerful logistics network in Turkey with 130,000 m3 LPG storage capacity in 20 locations, and explained that their goal was to complete the journey to leadership by increasing the market share of 10 percent in autogas and 19 percent in bottled LPG achieved with the takeover of Milangaz.
Indicating stated that they have shaped OYAK's future in the energy industry through strategic acquisitions, Erdem said, “With the acquisition of Milangaz, we will now begin to serve 100 percent domestic capital in the entire value chain of the LPG industry, including wholesale, autogas and bottled LPG. Milangaz’s high filling capacity, wide network coverage and storage capacity that is over the average will provide us with new business opportunities. In the coming period, while the number of our members will increase, we will continue to benefit from efficient investments for our members’ savings and to contribute to the growth and employment targets of our country in line with our values.