Assan Aluminium

active

Assan Aluminyum Sanayi ve Ticaret A.S., Turkey (the “Company” or “Assan”), is an existing IFC client since 1994 and one of the leading producers of flat-rolled aluminum products (“FRP”, which includes coil, sheet (plain and pre-painted) and foil products). Kibar Holding (“Kibar”), along with Kibar family members and other group companies owned by Kibar are shareholders in Assan. Founded in 1970, Kibar currently controls 22 companies and employs close to 4,000 people across five major business segments: (i) the Metals Group, engaged in aluminum flat rolled products production, steel-galvanizing, and processing and trading, and; (ii) the Mobility Group, engaged in the production and marketing of Hyundai vehicles and components in a joint venture with the Hyundai Motor Company of Korea; (iii) Building Material and Construction Group, engaged in sandwich panel manufacturing, construction and real estate development (iv) the Foreign Trade Group, engaged in exporting and importing the Kibar Group companies'' products, as well as in the trade of steel and other industrial products; (v) the Food & Packaging Group, engaged in the production of tomato paste, tomato sauce, canned vegetables and production of flexible packaging and converted foil; and (vi) Services Group, engaged in smaller operations in information technology, logistics and insurance. Assan has three plants, all located in Turkey including; i) the Tuzla Plant, established in 1988; ii) the Dilovasi Plant, acquired in 2005; and iii) the Dilovasi Paint Line, commissioned in 2015. Products fit within the largest segment of the aluminum semi-fabricated sector, supplying the construction, infrastructure, packaging, consumer durables, machinery and equipment and transportation industries.The project includes a corporate loan of up to EUR50M for financing Assan’s backward integration, refinancing of a recently acquired of scrap recycling plant, modernization of two existing recycling furnaces, installation of new furnaces, investments such as new production lines, foil mill, casting lines, dross presses and various investments to improve overall plant maintenance and production efficiencies.Assan has been awarded an existing Hydro Electricity Power Plant (“HEPP”) in Manavgat/Antalya/Turkey via the national Privatization Administration. The operating rights’ transfer for 49 years was finalized in April 2016. The HEPP will be mostly for captive use to help Assan to offset its energy consumptions and greenhouse gas emissions. IFC financing package will not be used for the HEPP acquisition.