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Poultry Company Forced to Halt Production

by 5m Editor
31 December 2008, at 9:02am

TURKEY - MUPI, one of the country's biggest poultry companies, has halted production due to the economic crisis.

Hurriyet also reports that the company that employs 400 personnel has changed its name to Ileri Tavukçuk. This is the name of one of its shareholders. Another shareholder, Kiliç Grup, canceled its partnership.

Speaking about the ongoing difficulties in Turkey's poultry industry, MUPI Winged Group Chairman, Ihsan Bozan, said the poultry industry had been bearing losses for 14 months.

"We will be able to afford our debts and obligations in the long run. We plan to pay debts through converting our existing assets into cash and using other sources," he said.

"We stopped production in incubation but we will still take care of our existing chickens. Production will completely halt in 45 days," said Mr Bozan.

Speaking on the situation of the workers of the company that operates in the Mudurnu province of Bolu, Mr Bozan commented, "We do not want our employees to be left unemployed. We might resume production through other channels after 45 days. If there is no other choice, we will consider selling the company.

"We will keep looking for new sources. If we cannot find external sources, we will seek a strong sponsor-partner."

The people of Mudurnu do not want the company to close, said Mr Bozan. "They are helping us in seeking resources," he said.

Following the closure decision, the workers' situation remained uncertain. "When MUPI began operations, it was an employment opportunity for hundreds of people. Now they are going to be left jobless," said one of the workers.