YC INOX increases capital in Turkish subsidiary YC INOX TR Celik Sanayi ve Ticaret A.S.
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Update time : 2022-11-29 16:42:38
YC INOX stated that in response to the capital needs of the Turkish subsidiary YC INOX TR Celik Sanayi ve Ticaret A.S. for the second phase of plant construction, machinery equipment, and other necessary financial equipment purchases, the board decided to increase the capital by 820 million Turkish liras, equivalent to NT$1.365 billion.
The Turkish subsidiary is 100% invested by YC INOX, with a total investment of approximately NT$6.658 billion, accounting for 35.36% of the company's total assets in the latest financial statement, and 63.22% of the company's latest financial statement attributable to the owner's equity.
After more than three years of construction, YC INOX's Turkey factory produced the first stainless steel pipe on April 26 this year, although the Covid-19 epidemic broke out during this period and the plant contracting plan was affected.
