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English
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oda_PartialOrCompleteSuspensionOrImposssibilityOfOperationsAbstract|
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oda_UpdateAnnouncementFlag|
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Hayır (No)
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oda_CorrectionAnnouncementFlag|
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Hayır (No)
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oda_DateOfThePreviousNotificationAboutTheSameSubject|
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-
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oda_DelayedAnnouncementFlag|
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Hayır (No)
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oda_AnnouncementContentSection|
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oda_NatureOfSituationOccured|
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Temporary shift reduction in Steel Mill and Rod Rolling Mill sections.
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oda_InformationAboutOperationsSupendedOrBecameImpossible|
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The reduction of our company's production by one shift in the Steel Mill section and two shifts in the Rod Rolling Mill section.
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oda_ReasonOfSuspensionOrImpossibilityOfOperations|
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Measures taken for more efficient use of resources and protection from cost losses as a result of the contraction in the Long Steel Products (Ribbed Rebar) market and increasing production costs.
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oda_DecisionDateOfAuthorizedBodyIfExits|
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-
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oda_ValidityDateOfSuspensionOrImpossibilityOfOperations|
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02.09.2022
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oda_EffectOfSuspensionOrImpossibilityOfOperationsOnTotalProductionOfCompany|
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Under normal conditions, our company's one-day, 1-shift Steel Mill production is approximately 1,300 tons, and Rod Rolling Mill production is around 900 tons. As the market conditions become suitable, the relevant shifts will start again.
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oda_EffectOfSuspensionOrImpossibilityOfOperationsOnTotalSalesOfCompany|
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As a result of the contraction experienced in the Long Steel Products (Ribbed Rebar) market and increasing production costs, an action was taken to protect against cost losses in the said period, and shifts were reduced.
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oda_ShareOfPartiallySuspendedOperationsInTotalProductionAndSalesOfCompany|
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1 shift Steel Mill production will decrease by approximately 1,300 tons (33.33%) per day, and 2 shift Rod Rolling Mill production will decrease by approximately 1,800 tons (66.66%) per day.
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oda_NumberOfPersonnelWhoseEmploymentContractsWereOrWillBeTerminated|
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-
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oda_TotalAmountOfSeveranceAndTerminationPaysThatWasOrWillBePaid|
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-
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oda_PrecautionsTookIntoConsiderationByCompanyManagement|
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Our company will focus on the production and sales of Profile Iron until the contraction in the Long Steel Products (Ribbed Construction Iron) market ends.
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oda_ConditionsRequiredForGoingIntoOperationAgain|
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Long Steel Products (Ribbed Rebar) when the recession in the market is over
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oda_ExpectedDateToBeginOperations|
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-
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oda_EffectsOnContinuityAssumptionOfCompany|
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It has no effect.
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oda_ExplanationSection|
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oda_AdditionalExplanationTextBlock|
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As a result of the seasonal contraction in the Long Steel Products (Ribbed Rebar) market, there is a decrease in the demand for the relevant product. Due to increasing production costs and economic conditions, within the framework of proactive management approach, in order to use resources more effectively and efficiently and to prevent possible cost losses; We have reduced our production to two shifts by temporarily interrupting production in one shift in the Steel Mill section of our company's production, and reduced our production to one shift in the Rod Rolling Mill section by temporarily interrupting production for two shifts. Production in our Profile Rolling Mill facility will continue as normal.
These actions are temporary and in order to ensure the continuity of operations, the shifts in question may be increased within this dynamic process, taking into account the developments in the Long Steel Products (Ribbed Rebar) market, production costs, demand and orders.
This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.
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