ULUSOY UN PRODUCES AT FULL CAPACITY AS DEMAND OF FLOUR RISES...

-

Turkey’s Ulusoy Un, which has ramped up flour production in the face of the coronavirus outbreak, has mandated consulting firm Pragma to explore strategic partnerships including a possible stake sale, two sources close to the matter told Reuters Wednesday.

One of the sources said the company “might be valued at more than $100 million,” adding any stake sale would depend on the offer received.

Ulusoy Un and Pragma declined to comment...

In a later statement to the Public Disclosure Platform (KAP) Wednesday, the company confirmed the reports that it mandated Pragma to explore potential partnerships.

“Our Board of Directors has decided to postpone the announcement so that the relevant process does not adversely affect our investors and our company,” the statement read.

“In the next process, developments related to the subject will be shared with our investors and the public in accordance with the SPK (Capital Markets Board of Turkey) and other relevant legal regulations,” it added.
Ulusoy Un A.Ş.
The Ulusoy family owns 75.7% of Ulusoy Un, which started processing wheat almost three decades ago. The other shares are traded on the Istanbul stock exchange, where they initially plunged along with global markets early last month.

But in recent weeks the stock jumped about 66% as more people have remained in their homes to stem the spread of the virus, raising the demand for flour. The company’s market cap is about TL 372 million (around $55 million).

Ulusoy Un recently said it is producing at full capacity and taking all necessary measures to ensure hygiene rules and standards. The source said that, before the coronavirus outbreak in Turkey, the company was producing at about 60% of its capacity.

Comments

Post a Comment

Popular posts from this blog

RİNT AKYÜZ: WE EXPECT FOOD EXPORTS TO REACH 20 BILLION DOLLARS THIS YEAR

-
Image
Turkey's successful fight against the new coronavirus, along with the hesitations or supply disruptions on purchases from countries hit hard by the pandemic, has stren gthened the brand image of Turkish food. As a result, orders from Asian and European purchasing groups have significantly increased – up to 100% in some product categories, sector representatives said. Many purchasing groups from Asia to Europe shifted their orders to Turkey, especially for products like packaged food. Turkey Food and Beverage Industry Associations Federation Vice Chairman Rint Akyüz said they expect food exports to reach $20 billion this year. The bestselling products during this period were ketchup, various kinds of sauce and tomato paste in particular. Turkish tomato paste producers, which rank fourth after America, China, Spain and Italy, have seen orders increase significantly. Sector representatives believe Turkey has emerged as a reliable alternative. Even Asian buyers now have he
Read more

DR. SİBEL SİLİCİ: PROPOLIS NOT IMPROVES THE IMMUNE SYSTEM BUT REGULATES AND STIMULATES

-
Image
Sibel Silici, Professor of Agricultural Biotechnology, Erciyas University (ERÜ), who has been working on propolis for 27 years in Kayseri and has won many international awards for his studies, published her works as a book. Professor Dr. Sibel Silici said that other bee products, especially propolis, have immune system regulating and stimulating effects. Not improving immune system but regulating... Stating that bee products provide protection against both bacterial and viral infections with this aspect. Dr. Silici said, "The immune system means immunity in medical language, the foreign body and microorganisms that enter our body from all the mechanisms. It is an immune system that we will strengthen with factors such as acquired immunity, healthy nutrition, sports, quality sleep." Emphasizing that propolis has a stimulating and regulatory effect on the immune system, Dr. Silici noted, "It is wrong to say that it increases the immune system because sometimes t
Read more