Kumas’ two rotary kilns at Kutahya,
western Turkey. In 2011, the company
was in the process of adding 65,000
tpa to its existing 185,000 tpa DBM
production capacity.
Savings Deposit Insurance Fund (SDIF), the owner of Turkey’s leading magnesia producer KŸtahya Manyezit İşletmeleri AŞ (Kumas), placed its integrated magnesia and refractories subsidiary under auction on 20 December 2011.
Although the sale had been expected for some time, Kumas held a press conference in late November 2011 announcing the move. Interested bidders had until 19 December to submit their bids, starting at $320m.
Nafiz Ozdemir, marketing manager at Kumas, confirmed to IM: “Kumas has been announced for sale for $320m. Officially, procedures have already started and SDIF is going to collect offers until 19 December.”
“The future role of Kumas will be clear after our new owner’s policy. But...