Tat Konserve Falls in Istanbul as Unit Stops Livestock Activity
Tat Konserve Sanayii AS (TATKS), a maker of canned and frozen fruits and vegetables, fell after saying it will stop livestock breeding activities at one of its units.
The shares lost 0.9 percent to 2.10 liras at 10:55 a.m. in Istanbul, paring the gain this year to 14 percent.
The company is terminating activity at its unit Harranova Besi & Tarim Urunleri AS due to performance and market conditions, Tat said in a statement to the Istanbul Stock Exchange after the market closed June 29. The livestock business has a 5 percent share in Tat’s annual sales, the company said.
To contact the reporter on this story: Benjamin Harvey in Istanbul at email@example.com
To contact the editor responsible for this story: Gavin Serkin at firstname.lastname@example.org
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.