Doğan Holding has completed the sales of its Çelik Halat shares

Doğan Holding has completed the transfer of all its shares of Çelik Halat, Turkey’s leading steel wire rope producer, to the companies Artaş İnşaat (Artaş Construction) and Betatrans Logistics.

Doğan Holding continues to transform the structure of its portfolio with projects that aim at simplification, digitalization, and focus, initiated through the perspective of a value-driven, spearheading, and sustainable investment holding company. It was in this light that the proposal Çelik Halat made in October was positively received and efforts began to achieve the transfer of 69.83% of Çelik Halat ve Tel San. A.Ş. shares that the Holding owned, the part of these shares corresponding to 75% to the company Artaş İnşaat Sanayi ve Ticaret A.Ş. and the shares corresponding to 25% to the company Betatrans Lojistik İnşaat Sanayi ve Ticaret A.Ş. The sales and transfer procedures for Çelik Halat shares were completed as of November 29, 2022.

Commenting that Turkey’s leading producer of steel wire and rope, Çelik Halat, has been a most valued part of Doğan Holding since 1997, Doğan Holding Chairperson of the Board Begüm Doğan Faralyalı said the following:

“As part of our focus from an investment holding company perspective on transforming the structure of our portfolio, we made a positive evaluation of Çelik Halat’s proposal and achieved the sales of our shares to Artaş Construction and Betatrans Logistics. Thirty percent of Çelik Halat shares have been traded on the Istanbul Stock Exchange since 1986. As from 2018, Çelik Halat, which has the distinction of operating Turkey’s first wire rope R&D center, has become a robust company that has a prominent presence in international markets, exporting its value-added goods to more than 50 countries, to sectors and areas of utilization that range from automotives to white goods, mining to forestry, agriculture to construction. This year we celebrated the 60th anniversary of Çelik Halat, and I have no doubt that the company’s new shareholders and management will continue to add strength to its power. My good wishes for continued success!”

The contribution to the Turkish economy will continue

ARTAŞ Board Chairman Süleyman Çetinsaya said the following about how Çelik Halat would continue to contribute to the Turkish economy:

“Çelik Halat joined the Doğan Group in 1997 and celebrated its 60th anniversary in 2022. The company is Turkey’s leading steel rope and wire producer. Çelik Halat established the sector’s first rope R&D center, and the value-added goods the company produces through its R&D efforts contribute to the Turkish economy with exports to more than 50 countries. We aim to strengthen Çelik Halat’s position in Turkish and international markets with the investments we will be making as Artaş and Betatrans. In line with this goal, we are rapidly accelerating our investment program to achieve modernization and the launching of our new range of products. Together with all our Çelik Halat employees, I hope that this new journey will prove to be of benefit to our country.”

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