Cimsa not to participate in capital increase

Cimsa not to participate in capital increase
Published: 14 June 2006

Cimsa Cimento Sanayi, Turkey, said that it decided not to participate in the capital increase of its subsidiary Enerjisa Enerji Uretim. Recently other Sabanci Holding group companies, namely Akcansa, Bossa, Brisa Bridgestone, Advansa Sasa and Kordsa announced that they would not participate in the capital increase of the company. Enerjisa will increase its capital by TRY 110mn from TRY 150mn to TRY 260mn via rights issue. The statement sent to the ISE by Cimsa reads that it would not participate in the capital increase because of the financial needs stemming from the company’s ongoing investments at its Mersin, Eskisehir, Ankara and Kayseri plants.