KORDSA TEKNİK TEKSTİL A.Ş.

Material Event Disclosure (General)

Publish Date:26.08.2022 18:20:24
Disclosure Type:ODA
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Summary

Regarding the investments decision in Kordsa Turkey Izmit Plant

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English
Material Event Disclosure General
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Announcement Content
Explanations

In our Board of Directors Meeting today; at Kordsa Turkey Izmit plant, 

1. In order to meet the increasing global demand in single-end cord which is used in high-performance tires; it has been decided to invest for single-end cord production line amounting 7,000,000 USD,

2. In parallel with our growth strategies in construction reinforcement segment, in order to continue the growth in Turkey and evaluate potential opportunities in export markets, it has been decided to invest for Polypropylene Monofilament Fiber production line adding to the current line amounting 5,000,000 USD.

The investments will start their operations in the first quarter of 2024 at Kordsa Turkey Izmit plant.



  


We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.