KARTONSAN KARTON SANAYİ VE TİCARET A.Ş. Faaliyetlerin Kısmen veya Tamamen Durdurulması ya da İmkansız Hale Gelmesi 26 Temmuz 2024

At the meeting of the Board of Directors of our Company dated 26.07.2024 and numbered YK/2024-16 the following decisions were made: 

a) Within the scope of the technical, efficiency and profitability report prepared regarding the cardboard production line No. 1 (KM1), which was commissioned in 1970 and has been continuing its production activities for more than 50 years, with a capacity of approximately 1/3 of the total gross production capacity of our company (compared to the technologies of the new generation cardboard production machines, the obsolescence of the technology and the fact that it has become a production line that has difficulty in efficient production,  current market conditions and the inability to provide unit profitability.. etc) in the cardboard production line No. 1 (KM1), which was previously decided to be temporarily suspended between 24.06.2024 and 31.07.2024, the cardboard production activity will be suspended indefinitely until another new decision  is made in the future, 

b) With the termination of production in the cardboard production line No. 1, to terminate the employment contracts of the personnel working in the said stopped production activities and the number to be determined by the technical departments that have become unnecessary by paying the notice and severance indemnities, to make the notifications, declarations and applications required to be made to the authorized labor union, all kinds of public institutions and organizations in accordance with the legislation, to inform the public and our stakeholders through the Public Disclosure Platform (KAP) regarding the said issue, to authorize the General Directorate regarding the said issues,

decision has been taken.

While production at the No. 1 cardboard production line (KM1) will be stopped indefinitely, production activities will continue at the No. 2 cardboard production line (KM2). Stopping production at the No. 1 will not have any negative impact on the production activities of the No. 2 cardboard production line (KM2).

The English translation of this statement is attached hereto, and in case of any discrepancy in the texts of the statement, the Turkish statement will be taken as the basis.