Turkish kitchenware maker Hisar has “left” its plant in Istanbul’s Esenyurt district with government-run Ziraat Bank in exchange for a loan debt, Ismail Erdogan, chairman of the company, told local business daily Dunya on March 7.
Ziraat is currently collecting bids for the plant at a minimum start-price of Turkish lira (TRY) 94mn ($12mn).
The company plans to launch a new plant in Cerkezkoy in Tekirday province, which neighbours Istanbul. The machinery in the Esenyurt plant is to be transferred to the new plant by end-July, according to Erdogan.
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