Businessman from Bursa, İbrahim Katırcıoğlu, comes to Karaköy and takes over the flour mill there. Kenan Eler, of Niğde origin, and İbrahim Katırcıoğlu, of Egyptian origin, who established the Flour Factory in Istanbul in 1937 and put it into operation in Karaköy in the following years, are not even aware that they are the architects of one of the largest flour factories in Turkey. Even if they don't realize it, fate will turn them into flour giants. Eler and Katırcıoğlu, who transformed the mill into a factory, are aiming for the top of the sector when they reach a factory that employs 60 people and produces 150 tons of flour. Death disrupts this summit game played in the industry and İbrahim Katırcıoğlu passes away in the 1950s. After the death of İbrahim Katırcıoğlu, his son Ali Namık Katırcıoğlu takes over his father's shares and takes over the management. An epic that will last approximately 40 years and will be written in golden letters in Turkish industrial history begins. The flour factory continues its operations as the Kenan Eler and Namık Katırcıoğlu Collective Company. Katırcıoğlu, which modernized the factory, made new investments and purchased new machines, sends flour to all corners of Turkey. Having difficulties in transportation and carrying out a different work, Katırcıoğlu had a railway line drawn up to the factory. Perhaps there was no such system in Turkey in those days. Karaköy flour loaded onto wagons is delivered to all corners of Turkey. Besides being a good industrialist, Katırcıoğlu was also the owner of different and original ideas and took on things that no one could even dream of in those days. One of these is that it produces its own electricity. This idea seems like a dream to everyone because even the villages in the region do not have electricity. But Katırcıoğlu, who traveled around the world, realized this idea and started to generate electricity with two dynamos in the stands he built at the Kurtköy entrance of the Karasu Stream. The electricity it produces here is more than enough for its own needs. It is even said that it heats greenhouses with electricity. Katırcıoğlu, who broke new ground both in the country's industry and in Bilecik with his electricity project, also established a chicken farm next to the flour factory. Katırcıoğlu, who distributed most of the chickens he produced on the farm to his friends and customers, entered another sector, but his activities in this sector did not last long. Closes the chicken factory. Having lived abroad for years and traveling abroad at every opportunity, Katırcıoğlu is a person who closely follows technological developments in the world and transfers these technologies to his factory. Namık Katırcıoğlu, who makes new investments every year, brings machines from Europe, and is one of the first people to use many technologies in the world, attaches great importance to R&D in particular. It produces special flours that many flour factories cannot produce today, 50-60 years ago. In the flour sector, where the black order and mill culture dominate in Turkey and the world, it has achieved a first by producing separately flours for Baklava, Pastry, Bun, Simit, French Fries, Biscuits and Bread. Because it establishes a laboratory and R&D unit within the factory. In this way, it becomes the leader of the sector. Just like everything that begins ends, the Karaköy Flour Factory also came to an end. Namık Katırcıoğlu's aging and his insistence on staying at the helm instead of handing over the business to his children were the beginning of the inevitable end. According to the workers, their children made an offer to take over the business and meet all of their father's needs, but Namık Katırcıoğlu did not accept this offer. After this incident, their children go abroad. Namık Katırcıoğlu, on the other hand, watches one of the biggest flour factories in Turkey and even Europe, which his father and his partner Kenan Eler built, being unraveled stitch by stitch, and begins to run towards the inevitable end. The liquidation process, which began on August 13, 1990, was completed in 1996 and the historic flour factory disappeared into history. Namık Katırcıoğlu, who experienced this painful event in the last moments of his life, closed his eyes to life on February 27, 2001, leaving behind a great success story and an ownerless factory. Namık Katırcıoğlu's son, Ahmet Katırcıoğlu, lives in America and, as his father puts it, "He plays the guitar and makes a living" and does not want to break his routine and come here. Her daughter, Fatoş, is married and lives in France. The flour mill, a giant of an era, stands headless and hapless right next to Karaköy. Osman Şıklar from Demirköy, who was once the President of the Central Bank and could not bear the factory's apparent destruction, stepped in. He tries very hard to sell the factory. He even makes attempts to sell it to ETİ. But no results are produced. Apart from this, there are those who investigate and examine the factory, but a factory that is not good for Katırcıoğlu's children is not good for anyone.

According to the latest satellite images, it has been destroyed.