The factory, owned by Setaş AŞ, one of the leading manufacturers of particleboard and melamine-faced chipboard in the forest products sector, commenced its operations in the Simav district of Kütahya on August 1, 1976, with the inauguration by the former Prime Minister Süleyman Demirel. Besides Setaş, the contributions of the local community in Simav played a significant role in the establishment of the factory.

For many years, the factory produced domestic particleboard and melamine-faced chipboard in compliance with European standards, making substantial contributions to the development of the furniture and construction sectors in Turkey and serving the industry for an extended period.

However, due to the entry of new high-capacity factories and advancements in technology, the factory decided to temporarily suspend particleboard production.

As part of the Koyuncuoğlu Companies Group, on February 1, 2020, the group acquired the factory through leasing from "Setaş A.Ş.," with 80% of the shares belonging to the Koyuncuoğlu family. By enhancing the existing PLYWOOD line with modern machinery, the Koyuncuoğlu Companies Group entered the significant sector of plywood, a crucial building product of our time.

Alongside taking responsibility for the maintenance and repair of the existing machinery, the Koyuncuoğlu Companies Group added various domestic and foreign machinery and equipment to the factory, introducing the SETPLY brand to our country. SETPLY, complying with European standards, has become a favored product in the OSB manufacturing sector. The company continues its partnership with industry leaders such as Kadant, Dieffenbacher, Steinman, and several domestic and foreign machinery manufacturers to provide innovative solutions.