Turkish mill Isdemir’s financial statement announced
Turkey's largest steel producer Eregli Demir ve Celik Fabrikalari T.A.S. (
Erdemir) announced the profit and loss statement of Iskenderun Demir Celik A.S. (Isdemir), another major Turkish steel producer, taken over by
Erdemir on February 1, 2002.
According to
Erdemir's declaration, Isdemir recorded an operating loss of $24.6 million and a net loss of $20.2 million within the period of February-June 2002. However, for the period of July-September 2002, the company achieved an operating profit of $0.3 million. Furthermore, according to
Erdemir's statement the total sales of Isdemir which amount to a $208 million in the period of February-September is aimed to be raised up to $ 286 million by end-year. Total
production of 1'164'000 tons for the same period is planned to reach 1'624'000 tons.