Company announcements

IVT becomes ViTO Construction as of 1 January 2021

January 1, 2021

To capitalise on ViTO Group’s 20-yeartrack record and strong brand name, the Board of Directors and shareholders have decided on renaming our wholly owned subsidiary IVT. As of 1 January 2021, IVT Mühendislik İnşaat ve Taahhüt A.Ş will operate under the name ViTOMühendislik İnşaat ve Taahhüt A.Ş as part of the ViTO Construction brand, which will continue to focus on executing turn-key industrial EPC projects focused primarily on the oil & gas and power sectors.

To capitalise on ViTO Group’s 20-year track recordand strong brand name, the Board of Directors and shareholders have decided onrenaming our wholly owned subsidiary IVT. As of 1 January 2021, IVT Mühendislik İnşaat ve Taahhüt A.Ş will operate under the name ViTO Mühendislik İnşaat ve Taahhüt A.Ş as part of the ViTO Construction brand, which will continue to focus on executing turn-key industrial EPC projects focused primarily on the oil & gas and power sectors.
The foundation for ViTO Construction was initiallylaid in 2014 through the formation of the joint venture IOT-ViTO, establishedby the large multinational Indian Oiltanking Group and ViTO. In 2017, ViTO founded its wholly owned EPC services company, IVT. By now, IVT has already carried outseveral projects, including the turn-key delivery of an oil storage terminal for Socar in Aliağa (İzmir), Turkey.
While we continue our multiple project rollouts inTurkey and Azerbaijan, we are also actively pursuing several projects acrossthe EMEA region. In spite of the challenges our clients have endured during thepast months and will face in the coming year, we see a strong demand for newcapex in the next 18-24 months.
About ViTO Group
ViTO Group is a specialised industrial services provider focused on entire lifecycles of assets n the oil& gas and power sectors. In addition to project development and financing,we offer our clients EPC as well as maintenance and repair services. We serve adiverse range of blue-chip clients ranging from operators/owners tomultinational EPC companies and OEMs. We currently employ a full-time team ofmore than 50 professionals with managerial responsibilities and can executeprojects with a manpower of up to 1,000 to 1,500 people.
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