IGSAS stopped production after its has been purchased by Yildiz Yatirim Holding in 2004 from privatization. IGSAS that employed some of its old workers and completed preparations needed for this, had met fertilizer demand of market by import for last three years. Company has made investment of 33.5 millions TRY for this operation.
IGSAS starts production again.
IGSAS stopped production after its has been purchased by Yildiz Yatirim Holding in 2004 from privatization. IGSAS that employed some of its old workers and completed preparations needed for this, had met fertilizer demand of market by import for last three years. Company has made investment of 33.5 millions TRY for this operation.
IGSAS is a institution that produces ammoniac and urea and composed fertilizer. Company has production capacity of 396 thousand tons ammoniac, 561 thousand tons urea and 118 thousand tons composed fartilizer annually. Production at IGSAS known as monopoly in production of in Turkey during its activation period, up to one year later than privatization had been stopped on December 15, 2006 at the end of high price hikes in price of natural gas as raw material in production, and the work of personnel had been ended.
Call to old employees
After this development IGSAS has continued to continue its way as sale from import in spite of sale from production. Company operating in Korfez district of Izmir has kept its port open for operation.. So, IGSAS had succeeded to finish 2007 with turnover of 192 millions TRY. But company that not able to enter ,into the biggest license of Istanbul Industry Chamber since it can not make production has taken place on 187. line within first 500 big industry institutions of Turkey in 2004.
Hasan Yildiz as Member of Board of Directors of Yildiz Entegre stating that they are objected to restart to production in plant after arranged costs and positive development in fertilizer sector has made statement to Economist as:
"We have realized composed fertilizer production as well as stepping plant in activation within this operation. Up to now, we made investment expenditure of 33.5 million TRY. We will realize 100 personnel recruitment for plant that we think to restart to production within June. We prioritise to personnel that we had been obliged to end their work previously. 90 personnel were working in IGSAS before purchasing.
Kaynak : Ekonomist Magazine - 25th May - 1st Hune 2008 - Issue 2008/21