Kardemir seeks assistance from Turkish government

Kardemir seeks assistance from Turkish government

In mid-April, the financially troubled Turkish steel firm Kardemir officially requested help from the Turkish Prime Ministry to solve its money problems. Previous requests by Kardemir for assistance have not yet been positively answered by the prime ministry. Industry sources indicate that the integrated long products mill is in a precarious situation. Kardemir's debts are reportedly in the range of $120-165 million. About $80-105 million of that is debt to the government.