Environmental Review Summary
Project Number
20476
Company Name
BORUSAN HOLDING AS
Date ERS Disclosed
May 14, 2003
Country
Turkiye
Region
Central Asia and Turkiye
Environmental Category
B - Limited
Status
Completed
Previous Events
Approved : Feb 6, 2004
Signed : Feb 20, 2004
Invested : Mar 30, 2004
Sector
Iron and Steel
Industry
other
Department
Regional Industry MAS MCT
Project Description
Borusan Group is a major Turkish company involved in steel and pipe production, distribution of automobiles and heavy construction equipment, a logistics company and in new technologies. The proposed project consists of:
- restructuring the balance sheet;
- implementing a number of corporate initiatives to improve productivity; and
- strengthening corporate governance.
The objective is to improve the companies overall operational and financial performance. Borusan Group is organized into five divisions:
- Steel Pipe Division comprising three companies which together represent one of the top five pipe manufacturers in Europe;
- Distribution Division comprising the sales and support for Caterpillar construction and earth moving equipment and power systems and also BMW and Land Rover passenger vehicles;
- Flat Steel Division which includes Boreclik, an IFC client, with cold-rolling steel operations;
- Logistics Division which provides logistics, domestic and international transport, port, warehousing and other services to third parties; and
- Technology Division offering LAN, alternative telecom and other IT services and taking partnerships in high growth IT and telecom companies.
- restructuring the balance sheet;
- implementing a number of corporate initiatives to improve productivity; and
- strengthening corporate governance.
The objective is to improve the companies overall operational and financial performance. Borusan Group is organized into five divisions:
- Steel Pipe Division comprising three companies which together represent one of the top five pipe manufacturers in Europe;
- Distribution Division comprising the sales and support for Caterpillar construction and earth moving equipment and power systems and also BMW and Land Rover passenger vehicles;
- Flat Steel Division which includes Boreclik, an IFC client, with cold-rolling steel operations;
- Logistics Division which provides logistics, domestic and international transport, port, warehousing and other services to third parties; and
- Technology Division offering LAN, alternative telecom and other IT services and taking partnerships in high growth IT and telecom companies.
Environmental and Social
Conclusion & Monitoring
Related SPI
