Management of Kontrolmatik Teknoloji, which operates in the fields of energy storage systems, electrical grids, automation, and industrial technology, has passed to the Savings Deposit Insurance Fund (TMSF). The company, which has been on the agenda for a long time due to financial difficulties, debt restructuring negotiations, and the Pomega facility that suspended production, had a trustee appointed on the evening of October 27.
The decision was not revealed through a separate public press release by the TMSF, but rather by the inclusion of Kontrolmatik's name in the institution's list of "companies under trusteeship." No notification regarding the matter was made by the company to the Public Disclosure Platform (KAP). It was stated that TMSF official İbrahim Paşalı also confirmed the appointment.
For Kontrolmatik, which is traded on Borsa İstanbul and has more than 300 thousand retail investors, the decline in the share price from levels above 50 liras to below 2 liras over the last three years has been one of the most significant issues for investors. The company's cash flow crunch, disruptions in some payments, and ongoing negotiations with banks for debt restructuring were also among the prominent topics of the process.
POMEGA AND DEBTS ON THE NEW MANAGEMENT'S AGENDA
Kontrolmatik Chairman of the Board Mustafa Ceyhan had recently provided information regarding the company's situation at a meeting with investors. At the meeting, it was stated that there were no plans to sell the Pomega facility in Ankara, which has reportedly not been in production for about a year, and that the goal was to make the facility, which produces lithium iron phosphate battery cells, battery packs, and energy storage systems, operational again.
However, no clear plan has been reflected to the public regarding how the financing needed to restart production at Pomega will be provided and what the timeline for the process will be. It was stated that negotiations were being conducted with the company's other partner, İş Portföy, and banks, and that work on the Pomega USA investment had stopped due to the crisis.
Company management had previously stated that a concordat was not among their plans, that the debt restructuring process with banks was ongoing, and that alternatives were being evaluated to make operations functional again. Despite this, the concrete source of financing, debt repayment plan, and production return schedule expected by investors have not been clarified.
With the appointment of the TMSF as trustee, the point of contact for critical issues at Kontrolmatik has changed. The new management faces tasks such as determining the company's asset value, making debts sustainable, deciding the future of the Pomega facility, and restoring investor confidence.
News Source: 12punto
