In the statement made to KAP by Borusan United Pipe Factories Industry and Trade Inc. (BRSAN), the total value of the land and buildings related to the large diameter pipe production facility located in Gemlik District of Bursa Province is 66,000,000 USD (approximately 2,043,703,200 TL) and It was stated that these assets were sold to Borçelik Çelik Sanayii Ticaret AŞ, one of the Borusan Group companies.
USD 32,500,000 (approximately 1,006,369,000 TL) of the sales amount was paid in cash on the day the transaction was completed, and the remaining USD 33,500,000 (approximately 1,037,334,200 TL) was paid by December 15, 2024 at the latest for the delivery of the real estate in an empty state. It was stated that it would be collected.
Borusan's statement to Kap is as follows;
"In our company's special situation statement dated December 18, 2023, it was announced to the public that work has begun to sell the land and buildings where the production of large diameter pipes, which are only within the scope of the infrastructure and project business line, is carried out in Gemlik Facilities, where we carry out our production activities with 3 factories.
Within the scope of the said studies, the land and buildings related to the large diameter pipe production facility located in Bursa Province, Gemlik District were sold to Borçelik Çelik Sanayii Ticaret A.Ş., one of the Borusan Group companies, for a total of 66,000,000 USD (approximately 2,043,703,200 TL). The sale was completed on February 22, 2024. 32,500,000 USD (approximately 1,006,369,000 TL) of the sales amount was purchased in cash on the day the transaction was completed, and 33,500,000 USD (approximately 1,037,334,200 TL) was 15 December, which is the latest date for the delivery of the real estate in an empty state. It will be collected in 2024. The relevant amount is guaranteed through a letter of guarantee.
We continue to work on alternatives for the sale or transportation of the machinery and equipment used in the production of large diameter pipes located on the relevant land sold in Gemlik Facilities, and concrete developments will be shared with the public.
Machinery, equipment, land and buildings used in the production of pipes, which have been produced in Turkey for many years and are currently located in our Gemlik Facilities and offered to customers in the industry, construction and automotive segments, are not within the scope of the relevant sales transaction. Our company will continue its production activities in Gemlik, Halkalı and Bursa facilities in Turkey.
"There is also an English translation of this statement, and in case of any differences in the statement texts, the Turkish statement will be taken as basis."
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