One of the leading chipboard and plywood manufacturers in the timber products industry, Setaş AŞ, began its operations on August 1, 1976, in the Simav district of Kütahya, with the inauguration ribbon cut by the former Prime Minister Süleyman Demirel. The contributions of the entire Simav community were of great importance alongside Setaş, a publicly traded corporation, during the establishment of the factory.

For many years, the factory produced domestic chipboard and plywood in line with European standards, contributing to the development of the furniture and construction sectors in Turkey as a complementary product, serving the industry for many years.

With the emergence of advanced technologies and the entry of new high-capacity factories into the market, the decision was made to temporarily suspend chipboard production.

As Koyuncuoğlu Group of Companies, on February 1, 2020, the company took over the factory through leasing, with 80% of the shares belonging to the Koyuncuoğlu family. It embarked on the significant OSB (Oriented Strand Board) line, a crucial construction product of today's industry, enhancing it with modern machinery.

In addition to taking on the maintenance and repairs of the existing machinery, Koyuncuoğlu Group of Companies added various domestic and foreign equipment to the factory, introducing the national SETPALLET brand in line with European standards, contributing to the production of pallets, a popular product in the current market. SETPALLET continues to collaborate with industry pioneers such as Kadant, Dieffenbacher, Steinman, and many domestic and foreign machinery manufacturers.