Court suspends sale of Ladik cement

Court suspends sale of Ladik cement
Published: 08 March 2006

The council of state, the top administrative court, in Turkey ruled for the suspension sale of Ladik cement plant to Turkerler Insaat. Akcansa gave the best bid in the tender held for the sale of the plant, however the competition board decided for the transfer of the cement plant to Turkerler, which placed the second best bid. Akcansa filed a suit against the competition board’s decision and yesterday the council of state suspended the execution of competition board’s decision. Turkerler Insaat already purchased the plant and Kazim Turker, board chairman of Turkerler Insaat, said that they already made some US$ 6m investment in the plant.