A new decision from Borusan for its factory in Gemlik!

Borusan reported to the Public Disclosure Platform (PDP) that the company is in an evaluation process regarding the relocation or sale of its Gemlik facilities.

Borusan's statement to the Public Disclosure Platform ( PDP) included the following statements:

Borusan Holding made a notification to the Public Disclosure Platform at 19.14 today. According to Borusan's disclosure to PDP, the company acquired "Berg Pipe", a company based in the United States of America ("USA"), in April 2023 in line with the changing market conditions, industrial dynamics and the strategic goal of becoming a local player in the target markets related to large diameter pipe production, which is included in the infrastructure and project business line, In addition to the acquisition, our Board of Directors is also concerned about the oversupply of large diameter pipes in Turkey and nearby geographies, the growing protectionist policies in foreign markets, and expectations that regulations such as carbon tax at the border, which may come into effect in the near/medium term, will make international competition even more restrictive, The Company has decided to evaluate the options of relocating the machinery and equipment used in the production of large diameter pipes in the Gemlik Facilities, which are only within the scope of the infrastructure and project business line, to our facilities in the USA, where we maintain our expectation of strong market demand in the medium / long term, moving to another geography through direct investment or partnership, or selling them as a facility to potential buyers, and to start working on the sale of the land and buildings where the related machinery and equipment are located.