Erdemir

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Erdemir
TypePublic/Private
Founded1965
HeadquartersImage:Flag of Turkey.svg Zonguldak, Turkey
IndustrySteel
Productsplates, hot and cold rolled sheet and tinplate
Websitehttp://www.erdemir.com.tr

Erdemir is a Turkish steel producer. The name is a contraction of the Turkish language Ereğli Demir ve Çelik Fabrikaları, which means "Ereğli Iron and Steel Factories".

[edit] Erdemir in brief

Erdemir, which began production in 1965, has a production capacity of 5.2[1] million tons/year of crude steel (2005 value). It is the largest iron and steel company in Turkey and the only flat steel producer. It produces plates, hot and cold rolled sheet and tinplate.

Its main plant is located on an area of approximately 4 square kilometers at Karadeniz Eregli, Zonguldak on the shore of the Black Sea. Erdemir operates a large port to import and export materials.

Erdemir has also acquired the steel plant at İskenderun in Hatay province, Turkey.

Military pension fund OYAK acquired a 49.29% stake in Erdemir on 4 October 2005 for $2.77 billion in a televised auction. The fund acquired 46.12% came from the Turkish Privatisation Administration (OIB) and was also obliged to purchase an additional 3.17% stake from a Turkish bank.

OYAK beat out five other bidders for Erdemir. This included Mittal Steel, Arcelor, Novolipetsk Iron & Steel (NLMK) and Severstal, which bid in consortium with the Nurol-Limak-Ozaltin-Alkol Pazarlama joint venture group. The Eregli joint venture group also participated in the auction.

[edit] See also

[edit] External links

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Image:Flag of Turkey.svg ISE Companies of Turkey


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