Formül, whose primary business activity at its inception was mold manufacturing and trade, was founded in 1992 by Haydar Şahin, who mastered the trades of turning and finishing before becoming a master mold maker. In 1995, an investment was made in plastic injection molding machines, and production of PP-RC fasteners for plastic manufacturers began. 

Starting in the early 2000s, the Formül and Aquapa brands were registered under the company’s name, and production shifted to these proprietary brands. At the same time, the necessary ISO and TSE certifications were obtained for the manufactured products.

Starting in 2003, the company began to focus on exports in addition to domestic sales. To expand its country and market network in exports, priority was given to obtaining internationally recognized quality certifications that meet defined standards.  

In 2009, a Metal Factory was established to meet the metal input requirements for semi-finished products through in-house production. 

Between 2013 and 2014, production capacity was doubled in line with the export revenue achieved, and production processes were automated. These capacity expansion investments facilitated the fulfillment of customer demands in subsequent years and made a positive contribution to the Company’s growth. Furthermore, with the exports made in 2014, the Company entered the “TİM Top 1000 Exporters” list. The Company has consistently remained on this list every year since then. 

As the Company’s overseas sales grew, there was a need for new brands; consequently, in addition to the Formül and Aquapa brands, the Foraqua, Aquaplast, and Aquapipe brands were also registered under the Company’s name.

In early 2015, a factory building was constructed in the Çerkezköy/Veliköy Organized Industrial Zone, and the company relocated from the Beylikdüzü OSB to the Veliköy OSB in the second half of the same year. 

In response to growing demand, the company entered the domestic market in 2017 and began establishing a dealer network. To expand the dealership network in the domestic market, it became necessary to begin production of PVC-U Wastewater Pipes and Fittings—a complementary system to the PP-RC plumbing pipe and fitting systems in buildings—so investments were made in this direction and production commenced. 

In the same year, the company obtained the “Authorized Consignee Certificate” (YYS), which helps save time and reduce costs. Thanks to this certificate, issued to companies that have proven their reliability, Formül can directly receive imported goods at its factory and send exported products directly from the factory to the customs border.

In 2018, production of PE-RT pipes began for Mobile and Underfloor Heating Systems within the Heating Group; these pipes offer superior performance compared to similar products due to features such as high-temperature resistance and easy installation.  

In 2020, an investment was made in a compounding machine that improves the impact and tensile strength properties of plastic and also serves a waste recycling function. 

In 2021, construction of the PVC factory building was completed, and production commenced using both existing and newly added machinery. In the same year, the company received the “Top Exporter” award in the PP-RC Plastic Pipe and Fittings sector from the HVAC Exporters’ Association, and has continued to receive this award in subsequent years.

The IT infrastructure was upgraded over the course of 2022 and 2023. An Automation System was implemented at the Main Factory. This enabled timely and appropriate interventions, thereby increasing efficiency. 

At the PVC plant, production has shifted to “silent pipes,” which ensure the ideal and safe drainage of wastewater in multi-story residential buildings, hospitals, schools, hotels, industrial facilities, sports complexes, and similar structures.

Thanks to its expertise and capability to produce multi-cavity molds from scratch at its own facilities, quickly repair existing molds and return them to production, and manufacture its own metal inputs, the company has resolved the issue of external dependency.

Formül, distinguished by its dynamic, fast-paced, disciplined, and reliable character, will continue to bring its many pending projects and investments to light when the time is right.