ELGINSAN has closed its door

 ELGINSAN is a company whose main office is located in Mersin, in south-eastern Turkey, which had experienced tremendous growth in recent years. Its main market was in Russia and had opened many branches in the country, one particular in Siberia. 

This rapid development was stopped dead on February 24, when the company filed for bankruptcy. Having failed, it employed 4,000 people who found themselves at the door and countless creditors trying to recover the company's loans, excluding producers who have given their products.

The devaluation of the ruble and problems in Russia this year are responsible for this situation. Elginsan is one of the many companies that have closed this year in Antalya and Bursa. The closure of export companies have many negative consequences, downstream and upstream market.

Source : manset.at