Turkey's Sasa rises after establishing SASA RAFINERI for refinery and petrochemical investment

About this update from Sasa Polyester Sanayi A.s.

** Turkish polyester maker Sasa BIST:SASA shares jump around 7% after it decides to establish new company for refinery and petrochemical investment** Sasa, a producer of polyester fibers, filament yarns and polymers, says it resolves to establish SASA RAFINERI, with a capital of 100 million lira ($2.44 million), to carry out its planned refinery and petrochemical facility investment in Adana/Yumurtalık** The new company will also manage logistics, infrastructure, and ancillary production facilities, including the area designated as a Private Industrial Zone in Adana/Yumurtalık** Brokerage Global Menkul Değerler say "We expect the impact of the development to be positive in the short term"** Analyst Mustafa Kemal Eski from brokerage Marbaş Menkul Değerler said SASA's stock rose after the establishment of its refinery** Eski noted the project is a key part of the region's operations, complementing Polyethylene Terephthalate (PET) and other investments, and expects it to bring significant benefits($1 = 40.9755 liras)

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