Industrial companies, which temporarily suspended their activities to reduce the effects of the Covid-19 epidemic, started to operate again with the decrease in the number of cases, the start of countries around the world to loosen restrictions and the support of economic management.
According to the information compiled by the AA correspondent from the announcements on the Public Disclosure Platform (KAP) in April, the number of publicly traded companies on Borsa Istanbul that have started production or announced that they will start by the first week of May has reached 16 so far.
While 3 of the companies that announced the resumption of operations started production gradually, production started in most of the 16 factories belonging to 13 companies that announced the date of their start-up. It was reported that production will restart in some factories at the beginning of May.
Notifications of commencement of activity are coming one after another
While production started at Federal Mogul Izmit Piston’s Aslanbey facilities, it was informed that the production break at the Izmit factory will end on May 5. It was decided to start production for Izmir Iron and Steel’s bar and profile rolling mills and steel rolling mill.
According to the notifications announced on KAP in April, Yünsa’s Çerkezköy factory, Demisaş, Ford Otomotiv, Karsan, Bosch Fren, Goodyear’s İzmit and Adapazarı factories, Tofaş Turkish Automobile Factory, Sanifoam, Borusan Mannesmann’s Istanbul Halkalı and Gemlik factories, Oyak Announcements about the start of production were also made for Renault, Sarkuysan, Luxury Kadife, Brisa and Akın Tekstil.
While production has started in most of these factories, 6 are expected to start production on May 4 and one on May 5.
After China, normalization begins in Europe as well
With the disruption of international trade and supply chains due to the Covid-19 epidemic that started in China, many industrial companies had to suspend their activities to escape the devastating impact.
Domestically, the restrictive measures taken regarding the epidemic slowed down the increase in the number of cases and the significant increase in the number of recovered patients, as well as the announcement that some European countries, after China, also relaxed the restrictions, encouraged the private sector to roll up its sleeves.
It is expected that the number of factories returning to operation one after another will increase with the effect of the financial support provided by the economic management to the companies.
The start of operations of companies also supported the stock market indices
With the positive support of companies starting to operate again, BIST 100 index rose above 100,000 points again. The BIST 100 index, which lost 15 percent of its value in March and fell below 90,000 points due to the negative news flow regarding the Covid-19 epidemic, compensated for almost all of its losses with the upward rally in recent weeks. As of yesterday’s closing, the index gained 13 percent in value compared to the end of March.
As the chimneys in the factories started to smoke again, the return of the BIST Industrial Index as of yesterday, compared to the March closing, exceeded 18 percent. The Industrial Index lost 18.9 percent of its value in March.
Analysts state that if the normalization in China, one of the important parts of the supply chain in the field of production, is followed by European countries, Turkey’s strongest trade partner and market, rapid recoveries in macroeconomic data and company activities may be seen.
Source: https://www.aa.com.tr/tr/ekonomi/sanayi-sirketleri-yeniden-uretim-icin-dugmeye-basiyor/1820973
