Half-century-old giant firm files for concordat

Aluminum, known as one of the established and powerful players in thesector, Arslan Aluminum has filed for a concordat due to financialdistress. This crisis experienced by the 50-year-old company has been interpreted as anoteworthy development in the sector andamong the public.

The Istanbul 1st Commercial Court of First Instance evaluated the company's concordat request and, as of April 9, 2025, three-month temporary grace period decision was issued. With the same decision, temporary concordat commissioners were also appointed.

TEMPTEMPORARYGRACE PERIOD EXTENDED BY ANOTHER 2 MONTHS

The court re-evaluated the company'sconcordat processand, as of July 9, 2025, extended thetemporary grace period by two more months. During thisunder the supervision of concordat commissioners during the processwill continue its operationsArslan Alüminyum is expected to complete its debtrestructuring plan.

Arslan Alüminyum carries out production at its facilities located in the Bilecik 1st and 2nd Organized Industrial Zones.It employshundreds of peopleThe company, which employs many, is particularlyknown for its aluminumproducts used in theconstruction andindustrialsectors.

The sectorHaving held a strong positionin the sector for manyyears, the company was included in theFortune 500 list of Turkey's largest companies in 2021. In 2024, it ranked276th among the largestindustrial enterprises according to the Istanbul Chamber of Industry (ISO) 500 list.

News Source: 12punto